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Press Release: Gov’t gets $500,000 fund to support SSDCB

The Government of the Gambia has secured a grant in the amount of US$ 500,000 (Five Hundred Thousand United States Dollars) from the Africa Legal Facility (ALF) to support Sovereign Debt Capacity Building (SSDCB).

The grant signing process was concluded on the sidelines of the African Development Bank Group Annual meetings in Malabo, Equatorial Guinea on 14th June 2019.

Given that the Government is currently engaging its external creditors for debt restructuring to restore debt sustainability,leading to securing an Extended Credit Facility (ECF) with the International Monetary Fund (IMF), this grant would provide the much-needed capacity building in the framework of its negotiation with the external creditors.

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