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Banjul Secures Funding For Trans-Gambia Bridge
Wednesday, 21 December 2011 23:06
(JollofNews) - The Gambia has secured a US$ 107.4 million funding package for the construction of the Trans-Gambia
Bridge and cross border improvement project.Construction of the 24.4 km bridge will be funded by the African Development Bank (ADB).
The project will be executed over a period of five years, commencing 2012 to 2017 and will provide an economic and logistical link between the Gambia and
Senegal. It will also help link the Gambia to other West African countries through the corridor between Dakar and Lagos.
Gambia is a sliver of a country surrounded by Senegal while road conditions and ferry links between the two sister countries are poor.
This is compounded by long and costly customs procedures, which often delay time-sensitive deliveries, such as foods and livestock.
It is hoped the new road infrastructure will have a positive impact on the economic development of all the countries, and promote healthy competition in trade.
Written by JollofNews
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Comments
Well, B4africa
You are right about the above. Hungary just caught the cold too as new year present.Note that whole Africa is very tiny borrower of IMF pot. However, if we get paracetamol and warn blankets from their monies, we might not caught any cold which I will describe as a deadly influences and pneumonia instead of cold..You know Brazil was once a chronic net borrower but now IMF depends on their money.
Anyway just read briefly the below links about IMF......understanding its nature might help we africans better our people lives likwise everything we do in this global fast economy.
1. Where the IMF Gets its Money @
http://www.imf.org/external/np/exr/facts/pdf/finfac.pdf
2.http://www.house.gov/jec/imf/IMFlending.pdf
Bless U
Did they not voice some concerns regarding the GG's ability to finance PAGE?
Of course...a bank does not have a heart and soul. It is not a benevolent institution....but one geared towards the protection/well being of its investors.
Is the IMF simply saying...hey look...you have our investors money and you must honour/meet the terms and conditions?
I take Malicks point about another round of debt relief being unrealistic...in the current sqeeze on borrowing.
It certainly makes for "tight" fiscal governance for West Africa.
It also gives a strong signal...that African economic management...is a mirror image of western economic thinking.
With all its current realities.
2012..is the most difficult year in the making.
What's going to happen to that money?
And Yes,the fuel subsidy eradication 'sunami' is spreading,but like lambs to the slaughter,you won't hear a noise (not from the opposition,unio ns,or civil society) when it reaches The Gambia.
By the way...the price of crude oil rose by a staggering 4 percent yesterday.
West African's need a big pay rise.
IMF fail to prove vital needs for its memeber states such as security of LIFE; PROPERTY & MARKET(whereas the property rights are valued and traded freely). But IMF only demand/impose the same corrupt policies, among are PRIVATATION of state industry( a bid to corrupt the leaders/dictators),CURR ENCY DEVALUATION; SUBSIDICING of food(causing food riot), these policies force Africans/Africa(debtors) everdeeper into debt while opening market to often Western, US and global corporate EXPLOITATION.
IMF is not an AGENCY to help AFRCINS/AFRICA but an ANGENCIE of AMerican dollar domination of the wolrd economy(to earn a dollar to repay debt).
SAY:IF IMF & World Bank sneeze Africans/ AFrica caught Cold!!
http://www.vanguardngr.com/2011/12/economy-imf-warns-nigeria/ ECONOMY: IMF warns Nigeria
OR VISIT IMF SITE or type in Nigeria
With further protests planned by trade unions and the people.
I also note...that Yousou Ndour has announced on his radio station that he will run for President next month.
Thanks Malick.
Yes I heard Nigeria was cutting fuel subsidies as well as Ghana.{both members of OPEC}
Yes I am aware that Nigeria has no refinaries {very strange}
Take the giant oil spill on America's shores recently. Obama went crazy.
Yet in the Niger Delta...oil polution has been going on for years.
Take some pipelines...they build across roads to save money...instead of going under.
The locals have had there land and wells poluted for ever....yet no one cries.
I am well instructed on Nigeria.
That said...Nigeria...has many merits.
Education...and healthcare and dental care are excellent.
Roads and community public amenities are outstanding.
There business people are world class.
However...the poor and low wage earner will be hardest hit...
We need to find the IMF's view.
If you find anything..let me know?
Take these points;
The Eurozone has been going for 10 years, but it takes these economic interlectuals...up until now to realise they require greater fiscal union.
To do this...these nations will lose autonomy and national identity/sovereignty.That may be OK for the poorer economies...but do you think the Germans would settle for equal parity with the poorer ailing econmies?
Do you think..the Germans will pay for the other nations imprudence and mounting debt?
The Chinese should be commissioning there own version of the IMF.
Do you think the western shareholders in the IMF..would be happy about that?
If the IMF and the World Bank had not invested in Africa.... Do you think Africa would be in better shape than today?
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