By Buba Gagigo
The Gambian government has obtained a $50 million revolving trade finance facility from BADEA to support the importation of petroleum products, food, and other crucial goods from African and Arab nations.
The Ministry of Trade, Industry, Regional Integration, and Employment has announced that this facility aims to ensure both the availability and price stability of essential commodities in local markets.
“The Ministry of Trade, Industry, Regional Integration & Employment wishes to inform the business community that the call for the second trench of BADEA’s Trade Finance Facility is open for applications. Key Features of the BADEA Finance Facility: Funding Opportunities: Funding is available in the form of loans to import petroleum products and other essential commodities, namely, rice, sugar, flour, edible oil, onions, whole chicken, chicken legs, potatoes to supply the Gambian markets,” the Trade Ministry announced.
The ministry also emphasized that essential commodities must be sourced exclusively from BADEA Member Countries, which include various African and Arab nations.
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