By Nelson Manneh
The Ministry of Finance and Economic Affairs in a press release said the Board of Directors of the Africa Development Fund approved on Friday, 14 July the “Gambia Electricity System Rehabilitation and Expansion Project (GESREP)” to improve electricity access and reliability in the country.
It says the project aims at contributing to the government’s goal of increasing electricity access through the provision of reliable electricity and strengthening of the institutional systems of the National Water and Electricity Company (NAWEC). The specific objectives of the project include providing consumers with reliable low-carbon electricity, increasing NAWEC’s billing and revenue collection capacity, supporting institutional strengthening, and ensuring effective operations and maintenance of electrical facilities.
“Through this approval, the Bank is making available to the Government of the Gambia a total amount of UA15 million, which is equivalent to USD 20.4 million divided into an ADF-16 grant of UA 10 million and a TSF-Pillar I Grant of UA 5 million for the implementation of the aforementioned project,” the press release stated.
The release further indicates that the Protocols of Agreement for both ADF and TSF Pillar I was negotiated and initiated by the Gambian authorities and the Bank on 26 June 2023.
It also states that the Protocol of the Agreement shall enter into force on the date of signature by the Recipient (The Government) and the Fund. In addition to the entry into force of the Protocols of Agreement for both grants, the first disbursement under ADF, as well as under TSF Pillar I resources, shall be subjected to the satisfaction of the conditions of the execution and delivery of a Subsidiary Agreement between the Implementing Agency and the Recipient in form and substance, is satisfactory to the Fund, and that the execution and delivery of a Project Agreement between the Fund and the Recipient in form and substance, satisfactory to the Fund.