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Gambia News : Gambian finance minister harps on decline in gov’t revenue due to global crisis
The Gambian Minister of Finance and Economic Affairs, Abdou Kolley disclosed on Wednesday that the recent financial crisis exacerbated the problems associated with food security, as it has led to further decline in government revenue and reduced economic activity.
Speaking at the signing ceremony of the 2.64 million euro ’food security contribution agreement’ between the government and the European Union, the minister said the main sources of income stemming from remittances and the tourism sector have also witnessed a decline, adding that this has resulted in The Gambia being identified globally as one of the most vulnerable countries.
“For the local population, the high global food prices during 2008 resulted in almost 50 percent increase in local staple food prices ; thus significantly eroded their purchasing power.
“The ability for The Gambia to meet their food requirement is therefore very dependent on their income level. Although the impact of this situation was felt across the whole country, the situation was worse for communities in the urban centres,” he said.
In acknowledging that this project will start immediately, Kolley said it will also indirectly encourages school enrolment and improve retention and performances of children in class as well as contribute to attainment of the objectives of the back-to-the-land initiatives championed by the president. He thanked the EU and the World Food Programme for yet another fruitful development partnership with The Gambia.
Helene Cave, the European Union Charge d’Affairs in The Gambia, said the 2.64 million Euro contribution is part of the so-called B-envelope, intended to cover unforeseen needs. She said that “A-envelope to cover macro-economic support, sectoral policies in the field of infrastructure and governance for the Gambia, which amount to 76 million Euros.
The recent food crisis, she said, is undeniably an unforeseen event, adding that the EU decided to assist those countries badly impacted to fight the crisis and to mitigate its most adverse effects.
Cave praised the government of The Gambia and in particular the office of the Vice President, for the prompt establishment of a National Task Force on Food Security, to prepare an adequate response to the soaring food prices.
“In line with the Paris Declaration to improve donor coordination and harmonization of aid delivery, the EU consider that by far WFP is the best agency to implement this project and therefore, today we will sign together a Contribution Agreement, under the auspices of the government of The Gambia, who are also agreed on this implementation mode,” she added.
According to her, very soon the European Union will finance another project worth over 5.3 million Euro under the global Food Crisis Response Programme to finance an agriculture production targeting nine most vulnerable rural districts to the food crisis.
Malcolm Robert Duthie, a representative of the WFP said that 2008/9 has been a difficult year for some Gambians. He said that this contribution agreement is to help the government help address those issues. According to him, this project will be targeting about 50,000 children in the rural areas by providing them with meals every day to retain them in school.
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- please let us dscuss African issues especially the Gambian democracy.
(Posted on August 22, 2010, 12:30 PM Mike)
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(Posted on January 5, 2010, 9:28 AM Lamin)
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(Posted on January 4, 2010, 10:26 PM H.johnson)
- Is very unfortunate that this column has now turn to be HI- Park where instead of t constructive debate it is a show of a hatered, tribal, personal interest and a lot more. Where does this take us?
(Posted on January 4, 2010, 5:31 PM Lamin)
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(Posted on January 3, 2010, 2:39 PM g.jorbatteh)
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