Gambia - Debt Management and Domestic Revenue Institutional Support Project (DMDR-ISP)

The proposed operation is a Transition Support Facility (TSF) Pillar III Grant of UA 1,000,000 for the Debt Management and Domestic Revenue Support Project in The Gambia (DMDR-SP). This is a technical assistance and institutional support Project, which aims to improve sustainable debt management practices and strengthen revenue mobilization capacity for greater fiscal and economic resilience. The Project generally involves acquisition of technical skills, extensive training of debt management staff on the effective utilisation of a new debt management software and broadening the coverage of the debt reporting to include State-Owned Enterprises (SOE)’s with significant contingent liabilities. The Project has three main components: namely (i) Improving sustainable and transparent debt management;(ii) strengthen domestic revenue mobilisation capacity; and (iii) Project Management. The first two components reinforce and complement each other. In addition to reducing the stock of existing debt, improved revenue performance will reduce the need to procure new debt and hence contribute positively to debt sustainability. Improve debt management will lead to improved macroeconomic stability and attract private investments. Strengthening domestic revenue mobilization will ensure that Governments priority development needs are met while reducing the stock of debt without compromising growth. Both interventions are complimentary as increasing domestic revenue mobilization will support debt repayments. The Project will be implemented over a two-year period between January 2022 and December 2023.