APPROVAL OF THE GAMBIA ELECTRICITY SYSTEM REINFORCEMENT AND EXPANSION PROJECT (GESREP)
By Ministry of Finance Communications Officer, Ebrima S Jallow
In a letter to the Honourable Minister of Finance and Economic Affairs, the Board of Directors of the African Development Fund on 14th July 2023, approved the “Gambia Electricity System Rehabilitation and Expansion Project (GESREP)”. This project is expected to contribute to the government’s goal of increasing electricity access through the provision of reliable electricity and strengthening of the institutional systems of the National Water and Electricity Company (NAWEC). The specific objectives include: (i) providing consumers with reliable low-carbon electricity; (ii) increasing NAWEC’s billing and revenue collection capacity; (iii) supporting institutional strengthening; and (iv) ensuring effective operations and maintenance of electrical facilities.
Through this approval, the Bank is making available to the Government of the Gambia a total amount of UA15 million, which is equivalent to USD 20.4 million divided into an ADF-16 grant of UA 10 million and a TSF-Pillar I Grant of UA 5 million for the implementation of the aforementioned project.
The Protocols of Agreement for both ADF and TSF Pillar I were negotiated and initiated by the Gambian authority and the Bank on 26th June 2023.
Furthermore, the Protocol of Agreements shall enter into force on the date of signature by the Recipient (The Government) and the Fund. In addition to the entry into force of the Protocols of Agreement for both Grants, the first disbursement under ADF, as well as under TSF Pillar I resources, shall be subject to the satisfaction of the conditions below:
The execution and delivery of a Subsidiary Agreement between the Implementing Agency and the Recipient in form and substance satisfactory to the Fund; and The execution and delivery of a Project Agreement between the Fund and the Recipient in form and substance satisfactory to the Fund.
