Banjul, 4 September 2026: The Greater Banjul Area Roads Project has received an additional financing boost from the Saudi Fund for Development (SFD), bringing the Fund’s total financing for the project to USD 60 million.
The additional development loan agreement was signed on Monday, August 31, 2026, between the Government of The Gambia, through the Ministry of Finance and Economic Affairs, and the Saudi Fund for Development.
The agreement is aimed at supporting the completion of outstanding works under the Greater Banjul Area Roads Project and ensuring that the road network is fully operational.
The signing followed a visit by H.E. Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, during which he was received by President Adama Barrow.
During their meeting, President Barrow and the SFD chief executive reviewed development projects and programmes financed by the Fund in The Gambia and discussed opportunities to further strengthen development cooperation between the two countries.
The additional loan agreement was signed by H.E. Sultan bin Abdulrahman Al-Marshad on behalf of the Saudi Fund for Development and H.E. Seedy K. M. Keita, Minister of Finance and Economic Affairs, on behalf of the Government of The Gambia.
The additional financing will support the remaining works required to complete the project, including upgrades to road infrastructure, improved stormwater drainage systems and enhanced traffic safety measures.
The interventions are expected to improve road safety and durability while strengthening the capacity of the road network to accommodate increasing traffic within the Greater Banjul Area.
The Greater Banjul Area contains the country’s most densely populated communities and some of its major commercial corridors. The road project is therefore considered important to improving mobility, facilitating trade and ensuring access to essential services for communities.
Speaking at the signing ceremony, Minister Keita underscored the importance of the project to The Gambia’s economic development and the daily lives of citizens.
He expressed appreciation to the Saudi Fund for Development for its continued support and for providing the additional financing required to bring the project to completion.
“This project is of significant importance to The Gambia, particularly given the growing population, increasing traffic and the critical role that the Greater Banjul Area plays in our economic activities.”
Minister Keita also highlighted the longstanding development partnership between The Gambia and the Kingdom of Saudi Arabia, noting that cooperation with the Saudi Fund for Development has contributed significantly to infrastructure development and other priority sectors.
He reaffirmed the government’s commitment to ensuring that the additional financing is utilised efficiently and transparently to deliver the intended benefits to the Gambian people.
The partnership between the Saudi Fund for Development and The Gambia dates back to 1977. Since then, the Fund has provided 15 development loans worth more than USD 181 million to finance 12 projects and programmes in sectors including transport, education, water and economic development.
In addition, the Government of the Kingdom of Saudi Arabia has provided five grants to The Gambia through the Saudi Fund for Development, valued at more than USD 43 million, to support the energy, water and sanitation sectors.
Established in 1974, the Saudi Fund for Development is a government institution that provides development financing to developing countries. It has financed more than 800 development projects in over 100 countries, with total contributions exceeding USD 22 billion.
Its financing supports infrastructure and social infrastructure projects through concessional loans, in line with the national development priorities of beneficiary countries and the Sustainable Development Goals.
Gambia News Agency
