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Gambia signs $68 million World Bank grant to revive tourism

BANJUL (Reuters) – Gambia and the World Financial institution signed a $68 million grant on Tuesday to revive the ocean-facing West African nation’s tourism sector, representatives of each events introduced at a ceremony.

The grant is supposed to help the diversification and local weather resilience of tourism in Gambia, a rustic of round 2.1 million inhabitants surrounded by Senegal.

The sector, like industries throughout Africa, has been hard-hit by the pandemic and financial fallouts of the conflict in Ukraine, World Financial institution managing director of operations Axel Van Trotsenburg stated on the signing ceremony in Gambia’s capital Banjul.

The grant is supposed to advertise sustainable tourism, develop totally different vacation experiences and assist shield Gambia’s Atlantic shoreline from the impacts of local weather change.

The pandemic precipitated Gambia’s financial development to contract by 0.2% in 2020, in line with the World Financial institution. The economic system has since began to get well, reaching 5.6% development in 2021, largely pushed by the return of seashore resort-goers and remittances.

Tourism accounts for roughly 20% of Gambia’s gross home product and is the most important overseas trade earner, in line with the federal government.

(Reporting by Pap Saine; writing by Sofia Christensen; modifying by Mark Heinrich)



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