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Home Agriculture

IsDB Approves US$3M “Sharia Compliant” Loan for Small Ruminants Production

M.E Njie by M.E Njie
January 20, 2020
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IsDB Approves US$3M “Sharia Compliant” Loan for Small Ruminants Production
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By Lamin Saidybah

The Coordinator of the Central Projects Coordination Unit (CPCU) under the Ministry of Agriculture, Mr. Abdoulie Touray, has disclosed to Mansa Banko Online the Islamic Development Bank’s (IsDB’s) approval of three million dollars (US $3 million) loan to The Gambia, as part of additional funds for the Small Ruminants Production Enhancement Project.

“The US $3 million allocation will be deposited to the Microfinance Department at the Central Bank of The Gambia,” Coordinator Touray stated with a smile on his face.

The CPCU boss stated that the money is meant to help the country’s livestock farmers have access to financial loans with a minimal Islamic Sharia interest attached, so as to support themselves in the rearing of their small ruminants.

Touray told this medium that plans are underway to hire a Consultant who is an expert in Islamic Sharia, to help in identifying how the money would be given out as a loan to livestock farmers.

“This additional fund is to follow Islamic Sharia that will attract minimal interest loan according to the teachings of Islamic Sharia,” he added. When the Consultant is done with the designing, Touray said farmers would have access to the funds.

The headquarters of the project would be located at YBK [Yerro Bell Kunda] in the Central River Region/South, Mansa Banko Online was apprised.

Touray reasoned that the project is being hosted in the Central River Region simply because the majority of livestock farmers are residing in that region.

The project, he indicated, would embark on various activities such as construction of laboratory training centre, construction of meat stall storage countrywide, establishment of pharmacies, capacity building for livestock farmers, boreholes, just to name a few.

The CPCU Coordinator hailed the IsDB for the support given to the present government, recalling the US$26.81million funding on livestock. Describing it as a big boost, Touray also disclosed that the project for both the US$26.81 million and US$3 million would last for four years, and thirty-nine districts selected countrywide will benefit.

As could be deduced from the Coordinator points of view, as far as CPCU is concerned, realizing the successful implementation of the project, and achieving the expected results are key to both the CPCU and livestock farmers- who are the beneficiaries.

The successful implementation of the project is geared towards improving livestock productivity, the rearing of small ruminants, and to discourage the importation of small ruminants from countries like Senegal and Mali.

The aim is also to boost the Gambia’s agricultural production and productivity to better change the livelihood of the farmers.

Touray said CPCU has no doubt that, with the composition of the project management, and with support from the farmers, Department of Livestock Services and the Gambia Livestock Marketing Agency, the “project will be a successful one”. And that at the end of the project, it “will be the leading successful implemented project in this country”.

However, he equally expressed dismay and concern over the manner in which numerous projects are implemented in this country, citing structural neglects leading to collapse of the project buildings.

Touray, therefore, used the interview to challenge the farmers who are the direct beneficiaries to change their attitudes towards “taking care of projects’ structures in the regions”.

Stressing they [beneficiaries] need to know that huge amount of money has been spent to construct those buildings, the CPCU chief believed it’s important that they combine efforts to ensure the sustainability of these projects, that would be very beneficial to their livelihood. He informed that the project would be providing capacity building training to farmers, in order to empower them with the requisite knowledge in the management of their businesses through the value chain.

Coordinator Touray further seized the opportunity to thank the government of The Gambia through the Ministry of Agriculture, for creating the enabling environment for Gambians.

Being quite aware that expectations are high in this project, Touray charged that, “it is a collective responsibility to ensure its success in the region”.

Tags: CPCUenvironmentFarmersIsDBIslamic Development BankLivestockLoanMaliMarketingProjectSenegalSharia CompliantSmall ruminantsSustainabilityTRAININGValue Chain
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M.E Njie

M.E Njie

Mamadou Edrisa Njie is the Publisher and Managing Editor of Mansa Banko Online. Mansa Banko Online is a Gambia-based online newspaper focusing on agricultural reporting. The online medium reports on quality, reliable, factual and authoritative information. Mr. Njie is an alumna of the International Institute for Journalism (IIJ) in Germany and studied Mass Communication at the Institute of Professional Administration and Management (IPAM) in Banjul, The Gambia.

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