Panafrican News Agency

Gambian economy very promising, growing at six percent - World Bank country director

Banjul, Gambia (PANA)  -   Ms Louise Cord, outgoing World Bank country director to The Gambia, said here Wednesday the Gambian economy was showing promising growth.

“The economy has been restored – growth is about 6 per cent, which is very promising situation, inflation is also down to 6 percent. So the macro aggregates are looking strong and reserves are at around 5months,” she said.

Cord made the statement Wednesday when she paid a courtesy call on the Gambian leader Adama Barrow to bid him farewell.

The World Bank has continued to be an active partner of the government, engaging in multiple sectors of development such as energy, education, health, and social protection.

Cord described her time in The Gambia as “one of the most memorable experiences”.

She was assigned to the country at the beginning of the political transition, providing the new government with budgetary support from the early days.

The World Bank chief said she was honored to be part of the economic transformation experienced under the current government, especially in the areas of macro-economic stability, restoring growth, improving fiscal management, and restoring stable and reliable access to energy.

“Without macro stability, it is very hard to talk about inclusive growth,” she added.

However, she maintained that for the inclusive growth to be sustained and everyone to benefit, The Gambia needed to continue to see important investments in energy, reform, and telecommunication sectors to ensure efficiency.

She also called for continuous investment in education, health, and social protection to ensure that The Gambia’s human capital was developed and her youths were able to compete globally.

She recalled some fond memories from her assignment in The Gambia, such as her first meeting with the President in Dakar and the signing of the $56Million budget support in Banjul.

She described these as “quite a historic and memorable moments” for the World Bank.

The assistance, she said, showed its commitment to the government and people of The Gambia.


-0-   PANA    MSS/RA   22May2019