Gambiaj.com – (BANJUL, The Gambia) – The Gambia has secured a $3 million loan from the Islamic Development Bank (ISDB) to boost its groundnut processing infrastructure and project management systems, the Ministry of Finance and Economic Affairs (MOFEA) announced Tuesday.

The loan, signed by Finance Minister Seedy K.M. Keita at the 2025 ISDB Group Annual Meetings in Algiers, Algeria, is part of two agreements, including an additional $150,000 grant aimed at supporting early planning and feasibility studies for the rehabilitation and expansion of the South Bank Road from Airport Junction to Bulok.

The loan will be used under the second phase of the Supplementary Financing for Enhancing Value Addition in the Groundnut Sector Project, focusing on upgrades to the National Food Security Processing & Marketing Corporation (NFSPMC) — formerly the Gambia Groundnut Corporation (GGC). The funds will cover improvements to processing infrastructure, project management and supervision, and financial auditing.

Meanwhile, the $150,000 grant — a Project Preparation Facility (PPF) — will support feasibility studies and technical designs for the proposed road project, which is seen as crucial for improving connectivity and driving economic growth in the southern regions of The Gambia.

The feasibility study will address environmental and social impacts, traffic analysis, technical specifications, and land acquisition issues. The findings will be submitted to the Ministry of Transport, Works, and Infrastructure through the National Road Authority to secure final approval for the roadworks.

Minister Keita emphasized that these financing agreements underscore the government’s commitment to modernizing critical infrastructure and diversifying the economy, particularly in agriculture and regional transport.