Marrakech, Morocco, 14 October 2023 –The President of Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser, and Minister of Finance and Economic Affairs of The Gambia, H.E. Mr. Seedy Keita met on the sidelines of the World Bank Bank/IMF Annual Meetings where they reviewed ongoing projects being financed by IsDB.

The discussions focused on various sectors such as energy, education, and transportation. The two sides also agreed to enhance collaboration and knowledge sharing to further strengthen the developmental journey of The Gambia.

To date, the total IsDB Group development financing approvals for The Gambia stand at US$ 1.18 billion which cover various sectors in the country including infrastructure and project financing by IsDB, private sector development by the Islamic Corporation for the Development of the Private Sector (ICD), and international trade operations by the International Trade Finance Corporation (ITFC). Meantime, IsDB Group’s insurance arm, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has already provided US$ 14.4 million as business insured and US$100.8 million as new insurance commitments.

The IsDB President, in the meeting, reiterated the Bank’s continued support for the national development drive in The Gambia. The two sides, furthermore, underlined the importance of consolidating and enhancing the current level of cooperation with an eye to tap into innovative financing methods in cooperation with the global development partners.