The European Union on Monday announced a new disbursement of 1,25 billion dalasi to the government of The Gambia.
According to the EU, the disbursement is meant for budget support to help stabilise the national budget, and contribute to the balance of payments.
Following an audience with President Barrow, Mrs Carla Montesi, Director for West and Central Africa at the European Commission Directorate of International Cooperation and Development, said: “Today’s disbursement is an important step forward for the EU’s development partnership with the Gambian Government. We remain committed to supporting Gambians in their democratic transition”.
Through this unprecedented grant, the EU aims to promote sound public financial management, mobilising domestic resources and fighting corruption as well as supporting political reforms.
The EU is also looking forward to strengthening its relations with The Gambia in the fields of migration and economic development and in particular support to youth employment.
It could be recalled that in February 2017 EU Commissioner for International Cooperation and Development, Mr Neven Mimica, expressed the European Union’s willingness to partner with The Gambia on its path towards democracy. In the presence of President Barrow, he signed an immediate package of some 3,75 billion dalasi and announced a subsequent one of about 7,5 billion dalasi before the end of 2017.