The International Monetary Fund (IMF) has increased its financial support to The Gambia to more than $165m, citing strong reforms and progress in stabilising the economy.

The package includes $100m through the Enhanced Credit Facility and an additional $65m dedicated to climate-smart financing.

President Adama Barrow welcomed the announcement at State House in Banjul during a visit by Dr Outtara Wautabouna, the IMF Executive Director for West Africa Constituency 1.

Dr Wautabouna commended The Gambia’s economic reforms and expressed confidence in the country’s future.

Mr Barrow highlighted that The Gambia had, for the first time, successfully completed an IMF programme despite challenges.

He pledged continued cooperation with the Fund and called for flexibility in financing to ensure projects are delivered on time.

The president stressed the importance of job creation and youth empowerment, pointing to Africa’s young population as a key driver of growth.

Finance and Economic Affairs Minister Seedy Keita, who led the IMF delegation, introduced Dr Wautabouna in his role representing The Gambia at the Fund.

He updated the president on the progress of the second Enhanced Credit Facility and confirmed that the country is now eligible for climate financing.

Dr Wautabouna expressed his gratitude for The Gambia’s support in his election to the IMF board for West Africa.

He said the Fund remains committed to helping the country sustain reforms and deliver projects aimed at improving lives and livelihoods.

By Adama Makasuba