The Saudi Fund for Development has agreed to extend its financial support for the Greater Banjul Area Roads Project in Gambia, increasing its total contribution to $60 million. The additional development loan agreement was finalized during a recent visit by the fund’s CEO, Sultan Al-Marshad, to the West African country.
The deal was signed by Sultan Al-Marshad and the Gambian Minister of Finance and Economic Affairs, Seedy Keita, marking a continuation of the fund’s commitment to infrastructure development in the region. The signing took place amid discussions that also included Gambian President Adama Barrow, who hosted Al-Marshad to review the progress of ongoing projects financed by the Saudi Fund.
This latest agreement aims to support the completion of road infrastructure improvements in the Greater Banjul Area, a major urban and economic hub in Gambia. Enhanced transportation networks in the region are expected to facilitate trade, reduce travel times, and contribute to broader economic growth.
The Saudi Fund for Development has been a key partner in Gambia’s efforts to develop critical infrastructure, with a focus on projects that promote sustainable economic progress and improved living standards. The extension of financing reflects a mutual interest in strengthening development cooperation between Saudi Arabia and Gambia.
Officials on both sides highlighted the significance of continued collaboration and the positive impact of infrastructure investments on Gambia’s socio-economic landscape. Further discussions also considered potential avenues for expanding bilateral development cooperation in the future.