World Bank
Board of Executive Directors has approved US$6 million for The Gambia in grant
financing by the International Development Association (IDA) that will provide
urgently needed assistance to address 2011 - 2012 national crop failure in the
country.
According to a statement from the World
Bank’s Dakar Office, the funds is part of Gambia First Economic Governance and
Reform Grant and the first in a series of two such Development Policy Grants
covering 2012 to 2013.
The initiative will support the
implementation of the country's Programme for Accelerated Growth and Employment
(PAGE), which aims at improving the living conditions of the Gambian population
by implementing cross-cutting reforms to diversify the economy and thereby
reduce its vulnerability to external shocks.
“The full impact of the lower-than-expected
harvest in The Gambia is now becoming apparent,” says Vera Songwe, World Bank
Country Director for Gambia, Senegal, Cape Verde, Guinea Bissau and Mauritania.
