Back and Next - Back and NextSoS Gaye signs $6.4 million grant agreement
Tuesday, January 13, 2009
The protocol of agreement of grant financing of the livestock and horticulture development project which was approved by the ADF board of directors on the 26th of December 2008 was signed on the 9th of January 2009, by Honourable Gibril Bala Gaye, the secretary of state for Finance and Economic Affairs, and Mohammed H’Midouche, ADB regional resident representative to The Gambia, based in Dakar.
The signing ceremony was witnessed by Serign Cham, permanent secretary, Department of State for Finance and Economic Affairs; Bakary Trawally, permanent secretary, Department of State for Agriculture; and Issaka Zampaligre, ADB legal adviser. This project, which will be financed by an ADF grant of UA 4.02 million (equivalent to $6.4 million) will undoubtedly assist The Gambia in its efforts to enhance the productive capacity of the economy and to revitalise agriculture and rural development especially during this time of global food crisis.
The project will directly benefit a population of about 3000 households. It is expected to increase: (1) the volume of marketed horticultural produce by 125%; the number of poultry birds by 1775%; the number of heads of small ruminants by 952% in the project area at completion.
The increased production, strengthened processing and marketing facilities will positively improve food security, reduce the reliance on import, particularly of meat products, and contribute to the medium term country response to the current food crisis. The project will also indirectly support and be supported by the expanding tourism industry - which currently relies on import of meat and vegetables for the supply of hotels. This could trigger the development of the Gambian agro-industry.
The advent of this project has brought the total of cumulative commitments of the African Development Bank group in the Gambia since the start of lending operations in 1974 to UA 210 million ($333 million). Commitments for the on-going portfolio stand at UA 52 million (US$ 82 million). These figures signify a successful partnership between The Gambia and the African Development Bank group which needs to be sustained and strengthened in the years to come.
The signing ceremony was witnessed by Serign Cham, permanent secretary, Department of State for Finance and Economic Affairs; Bakary Trawally, permanent secretary, Department of State for Agriculture; and Issaka Zampaligre, ADB legal adviser. This project, which will be financed by an ADF grant of UA 4.02 million (equivalent to $6.4 million) will undoubtedly assist The Gambia in its efforts to enhance the productive capacity of the economy and to revitalise agriculture and rural development especially during this time of global food crisis.
The project will directly benefit a population of about 3000 households. It is expected to increase: (1) the volume of marketed horticultural produce by 125%; the number of poultry birds by 1775%; the number of heads of small ruminants by 952% in the project area at completion.
The increased production, strengthened processing and marketing facilities will positively improve food security, reduce the reliance on import, particularly of meat products, and contribute to the medium term country response to the current food crisis. The project will also indirectly support and be supported by the expanding tourism industry - which currently relies on import of meat and vegetables for the supply of hotels. This could trigger the development of the Gambian agro-industry.
The advent of this project has brought the total of cumulative commitments of the African Development Bank group in the Gambia since the start of lending operations in 1974 to UA 210 million ($333 million). Commitments for the on-going portfolio stand at UA 52 million (US$ 82 million). These figures signify a successful partnership between The Gambia and the African Development Bank group which needs to be sustained and strengthened in the years to come.
Author: DO
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