(JollofNews) – International donors have pledged at least €1.45 billion ($1.71 billion) to support the new government in The Gambia to achieve its five-year development plan.
The pledge was made at Tuesday’s donor conference in Brussels in the presence of President Adama Barrow.
Official sources embedded with Barrow’s delegation to the conference intimated to the African Press Agency that international donor institutions have expressed readiness to support the government fix Gambia’s beleaguered economy.
The donor meeting in Brussels takes place amidst trepidation over a preliminary study by the International Monetary Fund which warned that Gambia’s debt vulnerabilities remain high and advised Banjul to chase grants instead of loans to address its spending needs.
It blamed a weak base for Gambia’s current economic woes.
The Brussels conference was the latest show of financial support from the international community since former President Yahya Jammeh fled the country ostensibly with millions of dollars thought to have been siphoned off state coffers.
Jammeh had lost a December 2016 presidential election to Barrow who claimed shortly after assuming office that he had inherited a battered economy from his predecessor.