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Saturday, September 18, 2021

Gambia to get Ecowas investment bank

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By Isatou Jawara

The Ministry of Finance and Economic Affairs in partnership with ECOWAS Bank for Investment and Development (EBID) and Gambia Bankers Association are in the process of establishing the first investment bank in The Gambia.
The EBID is a development financial institution owned by 15 member countries, which includes The Gambia, Ghana, Senegal, Burkina Faso and other ECOWAS countries.
Briefing the press on the matter, the Minister of Finance Mamburay Njie said the investment bank will become a leading bank that will operate in The Gambia and also within the sub region. He added that the bank is an effective tool for poverty alleviation, wealth creation and job promotion for the well being of Gambians and the sub region.
According to the Minister, the bank will grant loans and finance projects in The Gambia which will help the economy and social development as it will also carry out industrial and agricultural activities.
Also speaking at the briefing, Mr Alagie Jeng, head of finance and administration at the Bankers’ Association, who said EBID will be in the country to organise a sensitisation and roadshow to explore the Gambian market, adding that the strategic objective is to support sustainable development in communities.

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