Gambia - Institutional Support for Economic and Financial Governance II Project (ISEFG II)

The Institutional Support for Economic and Financial Governance II Project (ISEFG II project) falls within the Bank’s framework of assistance to the Government of the Gambia (GOTG). The objective of this three-year project (2012-2014) is to contribute to strengthening capacities in key public institutions engaged in economic management and governance. The project aims to address human and institutional capacity constraints and weaknesses in public financial management. The GOTG has made significant progress in many areas of PFM, including the implementation of an integrated financial management information system (IFMIS) and the clearance of a significant backlog of financial statements and corresponding audits. But significant challenges remain, including an increasing budget deficit (caused mainly by very high levels of debt and extra budgetary spending), and continued lack of human capacity in critical areas of PFM. The project has two outcomes: (i) improved macroeconomic policy analysis and debt management and (ii) greater scrutiny, transparency and accountability for the use of public funds.