The Gambia has secured a US$250 million financing package in a fresh deal aimed at boosting trade, strengthening exports and driving economic growth.

The three-year Strategic Financing Framework Agreement was signed between the Government of The Gambia and the International Islamic Trade Finance Corporation during the annual meetings of the Islamic Development Bank Group in Baku.

The agreement is expected to provide critical financing for key sectors of the Gambian economy while helping businesses access regional and international markets.

Finance Minister Seedy K.M. Keita hailed the deal as a major milestone, saying it would help unlock new economic opportunities and accelerate national development.

The funding package comes at a time when the government is seeking to expand trade, attract investment and create jobs amid growing economic pressures.

Official said the facility will support export growth, improve trade competitiveness and strengthen economic resilience over the next three years.

The agreement also signals continued confidence from international financial institutions in The Gambia’s economic reform programme and efforts to improve the investment climate.

ITFC Chief Executive Officer Adeeb Yousuf Al-Aama said the institution remains committed to supporting The Gambia through trade financing and development initiatives designed to unlock the country’s economic potential.

The latest agreement builds on years of cooperation between The Gambia and ITFC and is expected to play a significant role in supporting the government’s development agenda while boosting livelihoods across the country.