Press release
The African Development Fund has approved Gambia’s Electricity System Rehabilitation and Expansion Project (GESREP).
Through this approval, the Bank is making available to the government a total amount of UA15 million, which is equivalent to USD 20.4 million divided into an ADF-16 grant of UA10 million and a TSF-Pillar I Grant of UA 5 million for the implementation of the aforementioned project.
In a letter dated 14 July, 2023 and addressed to the minister of finance, the board of directors of the African Development Fund announced the approval of the project.
The project is expected to contribute to the government’s goal of increasing electricity access through the provision of reliable electricity and strengthening of the institutional systems of Nawec. The specific objectives include providing consumers with reliable low-carbon electricity; increasing Nawec’s billing and revenue collection capacity; supporting institutional strengthening; and ensuring effective operations and maintenance of electrical facilities.
The Protocols of Agreement for both the ADF and TSF Pillar were negotiated and initiated by the Gambia and the Africa Development Bank on 26 June 2023.
Furthermore, the Protocol of Agreements shall enter into force on the date of signature by the Gambia and the Africa Development Fund. In addition to the entry into force of the Protocols of agreement for both grants, the first disbursement under ADF, as well as under TSF Pillar, shall be subject to the satisfaction of the conditions below: the execution and delivery of a Subsidiary Agreement between the implementing agency and the recipient in a form and substance satisfactory to the Fund; and the execution and delivery of a Project Agreement between the Fund and the recipient in form and substance satisfactory to the Fund.
