The Gambia has struck a major financing agreement worth US$250 million with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, in a move set to strengthen trade and accelerate economic growth.
The three-year Strategic Financing Framework Agreement was signed during the IsDB Group Annual Meetings in Baku, Azerbaijan, and represents one of the largest trade financing commitments ever secured by the country.
A Milestone for Economic Reform
Leading the Gambian delegation, Finance Minister Hon. Seedy K.M. Keita described the deal as a milestone in mobilizing international resources for national development. He said the renewed partnership reflects growing confidence in The Gambia’s reform agenda and commitment to good governance.
“This agreement reinforces our commitment to leveraging strategic partnerships to unlock economic opportunities, enhance trade competitiveness, and create sustainable growth for the benefit of Gambian citizens,” Keita stated.
ITFC’s Commitment to The Gambia
ITFC Chief Executive Officer Eng. Adeeb Yousuf Al-Aama reaffirmed the institution’s support for The Gambia’s development priorities. He emphasized the importance of economic diversification and unlocking trade potential through tailored financing solutions and long-term collaboration.
Driving Trade and Livelihoods
The framework is expected to channel financing into key sectors of the Gambian economy, expand export opportunities, and strengthen participation in regional and international trade. Officials say the agreement will help boost export capacity, improve livelihoods, and reinforce the country’s resilience in the face of global economic challenges.
Moving Forward
Building on a longstanding partnership with ITFC, The Gambia aims to use the new financing to maintain macroeconomic stability, improve the ease of doing business, and advance priorities outlined in its national development agenda.
