The International Monetary Fund (IMF) has approved a $43.55 million grant for The Gambia under its Resilience and Sustainability Facility (RSF) to help the West African nation address climate-related economic vulnerabilities. The funding aims to strengthen The Gambia’s ability to manage climate shocks, promote sustainable development, and enhance macroeconomic stability. The 18-month RSF program, announced jointly by the IMF and The Gambia’s Ministry of Finance and Economic Affairs, is expected to support reforms that improve climate risk management, advance green public investment strategies, and bolster fiscal planning amid increasing environmental threats such as floods, droughts, and rising sea levels.
In addition to the RSF grant, the IMF has completed its third review of The Gambia’s Extended Credit Facility (ECF), which began in January 2024. Following this review, the IMF has disbursed an additional $6.95 million, bringing total support under the ECF program to $50.82 million since 2021.
The Gambia’s government reaffirmed its commitment to structural reforms aimed at improving fiscal governance, increasing revenue mobilization, and fostering inclusive and sustainable economic growth. Officials emphasized that while the country faces global uncertainties and domestic challenges, the dual IMF support packages represent a critical opportunity to accelerate long-term development plans and climate adaptation strategies. The RSF marks a strategic shift in how the IMF assists low-income and climate-vulnerable countries, focusing not just on stabilization but also on climate resilience and economic transformation.
