Gambia - Incentive-Based Risk Sharing System for Agricultural Lending (GAMIRSAL) Establishment Project (AFDB-P-GM-A00-007)

  • Gambia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 8, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Government of Gambia - CENTRAL BANK OF GAMBIA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Feb 8, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the AfDB website:

The GAMIRSAL Establishment Project would address a number of market failures, including: i) difficulties for actors along the agriculture value chains to access suitable financial services and products, due to lack of satisfactory collaterals and risk mitigating instruments as well as prohibitive borrowing cost; ii) reluctance of FIs to finance agriculture despite their high liquidity, due to their lack of knowledge of the agricultural sector, the agriculture perceived and inherent risks including climate risks and the lack of agriculture tailor-made financial products; iii) limited capacity of actors along agriculture value chains to develop bankable business plans and efficiently manage credit and climate change risk. Also, the project fits well into the new policy paradigm for agricultural development promoted by the Bank and the Government, which aims at transforming agriculture, through the Gambia Agriculture Transformation Program.

The project development objective is to increase access to lending from Financial Institutions (FIs) to actors in agricultural value chains. The project specific objectives are : i) increase access of FIs to risk mitigating instruments to crowd in investments in the agricultural sector; ii) improve FIs' knowledge of the agricultural sector and skills in analysing, financing, and managing agricultural project portfolios, including climate risk mainstreaming in investment portfolio; and iii) improve skills of agriculture value chains' actors in business governance (enterprise governance structure, board structuring and oversight, ownership structure, etc.), financial and credit risk management, climate risk management, as well as reporting. The achievement of these objectives will enable project end beneficiaries gain access to fit-for-purpose financing to increase productivity, generate greater added value and build resilience to climate change. At the national level, this will facilitate agricultural growth, increased exports, greater value addition, as well as improved food and nutrition security.

The project will intervene in all regions of the country, although concentration is expected to be in the Greater Banjul Area (GBA) where most of the commercial banks are currently located. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

AFDB Investment: U.A 5,000,000

Contact Information
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