By Fatou B. Cham
The Gambia Inclusive and Resilient Agricultural Value Chain Development Project (GIRAV) under the Ministry of Agriculture (MoA) recently disbursed 241 million Dalasis amongst Small and Medium (SMEs) engaged in the five priority value chains of the project; namely rice, maize, poultry, cashew and horticulture including mango.
The intervention is within the framework of Component 3 of the GIRAV Project titled ‘Mobilising productive private investments along the value chains’, which is specifically aimed at supporting private investments in productive activities and related services by addressing the major market failures that constrain the financing of investments in agricultural value chains.
Presenting the sum, Hon. Dr. Demba Sabally, Minister of Agriculture, said the country’s agricultural policy and strategy framework, has prioritized investment in agriculture, “given its wide ranging employment opportunities, its huge potential in wealth creation and the highly important goal of attaining self-sufficiency in the production and availability of fresh food for the Gambian people”.
He went on: “Although agriculture is not the highest contributor to Gross Domestic Product (GDP), it however has the highest number of Gambians in employment. It continues to engage a significant portion of our active population especially identified vulnerable groups disproportionately skewed in women, the youth and rural demography.”
According to the Honorable Minister, the matching grant scheme interventions, where the bulk of the financing is covered by the project as a grant will not only boost private sector production but will enable them incorporate agricultural machinery in the entire agriculture value chain hence, boost productivity and shall also enable horizontal and/or vertical diversification.
For his part, Mod Secka, Permanent Secretary, MoA, informed that the selection process of the SMEs was tedious but meticulous with some standard procedure followed.
“Technical assistance from the GiRAV contracted specialised firm which was provided the shortlisted candidates to elaborate their concept notes into bankable business plans during a 6-day business plan development workshop. The business plans were then presented to the Window Two National Matching Grant Selection Committee to review the best for final selection. The results were then forwarded to the World Bank for their clearance and No Objection which was received and triggered this current event after which disburser will soon begin,” he explained.
