|Approval Date||26 Mar 2018|
|Signature Date||03 May 2018|
|Planned Completion Date||31 Dec 2018|
|Last Disbursement Planned Date||26 Mar 2019|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The Gambia Emergency Budget Support (GEBS) Project is an operation, which aims at contributing to the urgent restoration of fiscal stability and the improvement of budget management for inclusive growth in the Gambia. It is part of an overall emergency support package from development partners (AfDB, World Bank, EU and IMF) aimed at responding to the dire fiscal, debt and balance of payment situation in the wake of the recent political transition – while ensuring continued human development support. Indeed, the Gambia faced a macroeconomic crisis with a fiscal and debt overhand as the recent political upheaval has exacerbated the country’s deep-rooted macroeconomic vulnerabilities. The programme, which will contribute to creating the fiscal space necessary to finance economic stabilisation, will help not only to stimulate economic growth, but also to meet pressing social needs in terms of education, health and social protection for the most vulnerable segments of the population. The GEBS consists of two (02) components, namely: (i) addressing the fiscal overhang while mitigating the impact on the most vulnerable; and (ii) Improving financial management in support of fiscal efforts.
GEBS’s main objective is to contribute to the creation of conditions for fiscal stability, and growth, and set the basis for future structural reforms. In doing so, it will contribute to ensuring that social spending is protected from budget cuts, in order to cushion the most vulnerable.
The direct beneficiaries of the program include Ministry of Finance and Economic Affairs (MoFEA) and other sector ministries supported by the project such as, the Ministry of Health, and the Women’s bureau through the maintenance of their respective funding. The indirect beneficiaries from the proposed GEBS will be the people of The Gambia, who have been severely affected by the macroeconomic crisis.
African Development Fund
Ministère de l’Économie et des Affaires financières (MoEFA)
|Last Update||07 Jul 2020|