IMF Boosts Support for The Gambia, Raises Funding to $165 Million

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…$100 Million for Credit Facility, $65 Million for Climate-Smart Financing

The International Monetary Fund (IMF) has increased its funding ceiling for The Gambia to more than $165 million, in recognition of the country’s robust reforms and macroeconomic progress under President Adama Barrow.

The support package includes $100 million for the Enhanced Credit Facility and an additional $65 million earmarked for climate-smart financing.

IMF Commends The Gambia’s Economic Progress

The announcement came during a courtesy visit to State House in Banjul, where Dr. Outtara Wautabouna, IMF Executive Director for West Africa Constituency 1, praised The Gambia for its reform efforts and positive economic trajectory.

“The Gambia has shown strong macroeconomic progress, and we are optimistic about its economic future,” Dr. Wautabouna said.

President Barrow welcomed the development, noting that despite being “a small country with a lot of challenges, we have, for the first time, completed an IMF programme.”

Barrow Calls for Flexibility and African Unity

President Barrow assured the IMF of The Gambia’s continued cooperation, while also urging for greater flexibility in delivering projects that directly impact citizens.

He highlighted the importance of African integration, stressing:

“We must collaborate and work as a family. With our youthful populations, the best way forward is to create jobs and enabling environments for them to prosper.”

Finance Ministry Outlines Progress

The Minister for Finance and Economic Affairs, Hon. Seedy Keita, briefed President Barrow on the implementation of the second Enhanced Credit Facility.

He confirmed that The Gambia had also become eligible for climate-smart financing, unlocking fresh funding opportunities for the country.

Dr. Wautabouna, meanwhile, thanked The Gambia for supporting his selection as Executive Director for the West Africa Constituency at the IMF.