Tuesday saw the signing of a $68 million grant between the Gambia and the World Bank to help the ocean-facing West African nation’s tourism industry.
The award is intended to assist Gambia, a nation of around 2.1 million people surrounded by Senegal, in diversifying its tourism industry and building climate resilience.
Axel Van Trotsenburg, managing director of operations for the World Bank, stated at the signing ceremony in Banjul, the capital of the Gambia, that the sector, like industries throughout Africa, has been severely impacted by the epidemic and economic effects of the conflict in Ukraine.
The award is intended to advance environmentally friendly travel, create new vacation opportunities, and aid in reducing the effects of climate change on the Atlantic coastline of the Gambia.
According to the World Bank, the pandemic caused Gambia’s economic growth to slow down by 0.2% in 2020. Since then, the economy has begun to improve, growing by 5.6 percent in 2021, mostly due to remittances and tourists returning from beach resorts.
According to the government, tourism generates the most foreign currency and contributes about 20% of the country’s GDP.
