The Gambian Minister of Finance and Economic Affairs, Mr. Abdou Colley, has signed a $7.5 million loan agreement with the Saudi Fund for International Development for the construction of the Brikama-Darsilameh-Dimbaya road stretch along the south bank of the River Gambia.
According to a press release issued Friday, the agreement was signed at the headquarters of the fund in Riyadh on February 13 during Colley’s recent trip to the Kingdom of Saudi Arabia.
The road project is being co-financed by the Arab Bank for Economic Development in Africa (BADEA) and the government of The Gambia to the tune of $14.5 million overall.
The 25km stretch project will when completed improve the national roads network in accordance with plans and programs of the government, the release said.
It will also link The Gambia to southern Senegal, ease traffic movement and safety on the south bank as well as reduce the cost of traveling for residents, in particular farmers, the release says.
The release said Colley signed on behalf of the government of The Gambia while Yousef Ibrahim Al- Bassan, the vice chairman and managing director of the Saudi Fund for International Development, signed on behalf of the fund.
Source African Press Agency
African News from NetNewsPublisher.com
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