REPUBLIC OF
THE GAMBIA
MINISTRY OF INFORMATION AND
COMMUNICATION INFRASTRUCTURE
GRTS BUILDING, MDI ROAD,
KANIFING, THE GAMBIA, WEST AFRICA.
OFFICE OF THE GOVERNMENT SPOKESPERSON
PRESS
RELEASE FROM THE OFFICE OF THE GOVERNMENT SPOKESPERSON
Dated:
2nd March 2019
To Modernize
Gambia, Barrow Government Proposes to Set Up ‘Gambia Infrastructure Fund’ (GIF)
The Gambia Government notes with
concern that despite modest infrastructural developments since independence in
1965, the country faces major constrains in its overall infrastructural
landscape and compared to our neighbours, some places in The Gambia are in dire
need of major infrastructural face lifts. This general state of dilapidated and
decrepit infrastructure or lack thereof, speaks volumes to the senseless waste
of scarce resources, institutional malfeasance, corruption and poor planning.
While millions of US dollars were
lavishly wasted on ceremonies, random acts of kindness and white elephant
projects, majority of Gambians continued to endure abject poverty, poor
educational facilities and a dysfunctional healthcare system.
Against this depressing background
of decades of decay, poverty and underdevelopment, President Adama Barrow
proposes to launch an independent institution through an Act of Parliament to
be called The Gambia Infrastructure Fund (GIF).
To be headed by a Chief Executive Officer, GIF will be
responsible for the strategic financing of a well-planned and bankable infrastructure
with a view to remarkably transform the economy through large scale household
poverty reduction.
As a new institution, President
Barrow envisages that GIF complements the public sector role in development by
providing strategic leadership in the creation and delivery of infrastructure
masterplans, the development of strategic bankable infrastructural facilities
and the provision of appropriate financing to support delivery of landmark
projects. The proposed GIF will manage three core areas of responsibility for
development:
1.
Gambia Infrastructure Trust Fund (GITF) – This will manage the
trust fund capitalized by domestic and foreign individuals, institutional and
fund investors, using market-based mechanisms. The proposed GIF may not place
any financial liability (explicit or contingent) on the government.
2.
Planning Function –Which will develop infrastructure
master plans and designs, and further manage and/or coordinate construction,
operation and maintenance of ensuing infrastructure through public—private
partnerships.
3.
Compliance Function– To provide institutional and
regulatory leadership required to sustainably manage infrastructure master
plans and projects.
When fully operational, GIF will
invest in three economic hubs geographically spread across the country,
interconnected by backbone infrastructure corridors, to engineer economic
growth through large scale job creation and poverty reduction in all regions.
As a first step, The Gambia Government
is to establish an Interim Steering
Committee (ISC) to prepare the ground for rolling out GIF within a year.
Consistent with the ethics of
transparency and democratic accountability and determined to transform the lives
of Gambians across the spectrum, President Adama Barrow is therefore, very
pleased to announce these plans and will keep the public informed every step of
the way in the weeks and months to come as certain milestones are achieved.
EGSankareh
…………..
Ebrima G. Sankareh
The Gambia Government Spokesperson
