The Central Bank of Gambia (CBG) has entered into a $75 million currency swap agreement with the African Export-Import Bank (Afreximbank) to fund strategic road infrastructure across the country.
Signed during the Afreximbank’s 32nd Annual Meetings (AAM2025) in Abuja, the five-year deal will support the National Roads Authority (NRA) in continuing its rural and urban road construction and rehabilitation projects.
The agreement allows Afreximbank to use local currency proceeds to purchase NRA-issued bonds, which will back the swap facility and enhance foreign currency access while promoting infrastructure development.
This innovative transaction aims to boost national connectivity, productivity, and economic inclusion.
It aligns with the Gambian government’s vision to open up rural communities and link production areas to urban markets. Established in 2006, the NRA manages the country’s entire road network, and CBG, a founding institution of Afreximbank, continues to partner with the bank on strategic financing.
Oakwood Green Africa acted as financial advisor for the deal. AAM2025 concluded with the appointment of Dr. George Elombi as the new President of Afreximbank, succeeding Professor Benedict Oramah.
