Gambiaj.com – (BANJUL, The Gambia) – The World Bank Group has approved $45 million in grant financing to support The Gambia’s push to strengthen domestic revenue mobilization, accelerate private sector development, and build resilience against climate change.
The funding, drawn from the International Development Association (IDA), was approved on Tuesday and will back a series of reforms aimed at safeguarding the country’s economic progress and improving living standards.
Three-Pillar Reform Agenda
“The Gambia is on a good growth trajectory despite the external shocks of recent years, but growth remains fragile due to a combination of structural weaknesses, including climate vulnerability,” said Ephrem Niyongabo, World Bank Economist and Task Team Leader.
“To sustain its growth and improve the living standards of the population, it is essential for The Gambia to pursue and accelerate transformational reforms.”
The operation marks the first development policy support program tailored to advance reforms for inclusive and sustainable growth in The Gambia. It focuses on three key pillars:
Driving Domestic Revenue, Private Sector-Led Growth, and Climate Resilience
The initiative seeks to broaden the tax base and rationalize tax expenditures as part of efforts to boost government revenue and create more fiscal space.
Reforms will address constraints in vital sectors such as energy, telecommunications, and the broader business environment. The program also prioritizes human capital development, with particular emphasis on expanding economic opportunities for women and young people.
The financing will support the creation of institutional and legal frameworks to guide climate action and coastal zone management, aiming to reduce vulnerabilities linked to climate change.
Support for National Priorities
Franklin Mutahakana, World Bank Group Resident Representative in The Gambia, said the grant will help advance reforms critical to the country’s long-term development goals.
“This financing will enable The Gambia to carry out reforms to build fiscal space, facilitate the development of key sectors, and improve human capital and the business environment to enhance participation of the private sector in the economy,” he stated. “The proposed operation provides a critical line to improve access to essential services and enhance women’s and youth employment opportunities while enhancing environmental sustainability.”
The program aligns with the Gambia Recovery-Focused National Development Plan (2023–2027) and supports the government’s agenda for green, resilient, and inclusive development. It also aims to ensure that national planning integrates climate adaptation and disaster risk management.
The World Bank says the operation will help position The Gambia to withstand future shocks while laying the groundwork for sustainable, private sector-driven economic growth.
