Gambia’s Agricultural Ministry Signs a USD 3 Million Agreement with MFIs to Uplift Rural Livelihoods

In an effort to uplift the rural and peri-urban livelihoods in Gambia, its Ministry of Agriculture has signed a USD 3 million worth contractual agreement with two Micro Finance Institutions (MFIs). The two MFIs are Supersonicz Financial Limited and Gambia Teacher’s Union Islamic Cooperative Credit Union (GTU-ICCU).

Why it Matters?

The contract seeks to uplift the productivity and resilience of productions systems, encourage entrepreneurship in small ruminant production/businesses and to help farmers with monies through Murabahah, Ijarah or Salam modes of financing. According to Hassan Jallow, Permanent Secretary, Ministry of Agriculture, the agreement signed with the two MFIs will create opportunities for farmers who face financial constraints. This is al...