The Minister of Finance Seedy Keita has admitted before the National Assembly that government received an estimated D11.6 billion from donors for seven major energy development projects between 2020 and 2023 but these disbursements were not reflected in the national budget reports due to ‘reporting and system limitations.’
The minister was asked to explain the absence of this key information in the budget reports by Minority Leader and Member for Brikama North, Alagie Darboe, who also demanded an explanation for the disparity between the amounts approved by the National Assembly for the seven major energy development projects under the Ministry of Petroleum and Energy and the amounts actually disbursed between 2020 and 2023.
Responding to Hon Darboe, Minister Keita admitted that the actual disbursement received under these projects was not captured in the national budget reports because the projects were not enrolled in the Integrated Financial Management System IFMIS.
However, according to the minister, the Directorate of Aid Coordination maintained a record of the actual disbursement received, and based on these records, the Ministry has accounted for approximately D8.61 billion in actual disbursement received during the period, compared to the D2.2 million reflected in the approved budget.
“Accordingly, the variance does not indicate that funds were not received; rather it resulted from a reporting and system limitation as the projects were not enrolled in the IFMIS and consequently their actual disbursement could not be captured in the final national budget reports,” Keita said.
National debt
The minister was also asked to inform the Assembly on Gambia’s total public debt (domestic and external) and the amount owed to each creditor institution or country.
He replied that the total public debt as of 30 June 2026 amounted to D141.358 billion, of which domestic public debt accounts for D51.881 billion while the external public debt accounts for D89.477 billion.
He said the main external creditors are; Abu Dhabi Fund, IMF, Kuwait Fund, Arab Bank for Economic Development, European Investment Bank, Bank of Venezuela, Ecowas BanK for Investment, Sport Import Bank of India, Export-Import Bank of China, Government of Belgium, IDB Solidarity Fund, IFAD, Libyan Arab Jamahiriya, Opec Fund, MA Kharafi and Sons and Saudi Fund, Taiwan.
