Agric investment: EBID, Gambia, sign $10m facility for food security
Orisemeke Bilal
The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with the government of The Gambia for a $10 million facility to tackle food insecurity.
The signing of a $10 million public sector loan between EBID and the Government of The Gambia was one of the highlights of the 23rd Annual General Meeting of the EBID’s Board of Governors.
The loan is intended for the National Food Security Processing and Marketing Corporation (NFSPMC) as part of the implementation of the Second Generation National Agricultural Investment Plan for Food and Nutrition Security (GNAIP II-FNS).
This initiative aims to boost agricultural productivity, improve food security and increase value added in the agricultural processing sector, a key sector for economic diversification and poverty reduction in the sub-region.
The loan is in line with EBID’s strategy of investing in key sectors such as agriculture, technology, industry and transport. The President of EBID, Dr Donkor reiterated the Bank’s intention to support initiatives that bring measurable socio-economic benefits, particularly to vulnerable communities across West Africa.
