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Syndication
An African Development Bank, ADB, supported project, the Entrepeneurship Promotion & Microfinance Development Project, was launched on Tuesday 29th May at the Kairaba Hotel, near Banjul . Scores of stakeholders, representatives of Micro Finance Institutions and heads of government departments graced the occasion with their presence. After the launching ceremony many of the guests stayed over for a workshop that laid down the details of the project for them. The project was said to have emanated from The Gambia Government’s proclaimed desire to reduce poverty which has been reported to have increased significantly over the past decade. An official of the SDF,(Social Development Fund) the government agency that is to implement the project, told the Gambia Journal that the project was designed “through extensive review both at the country level and with the ADB,” He said the design was based on the need to increased employment in the country, to promote small enterprises, improve access to markets and create a conducive environment for economic growth. He added that project aims to reduce poverty, support diversification of sources of rural income generation, broaden access to financial services and strengthen the capacities of Non Banking Financial Institutions. Representatives such institutions like IBAS, GAWFA, GAMSEM,, WOMEN’S BUREAU, NACCUG and the recently launched RELIANCE, deliberated in the discussions.
