{"id":31156,"date":"2023-03-07T15:15:04","date_gmt":"2023-03-07T15:15:04","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/lower-saloum-nam-taking-loans-is-not-a-problem-implementation-is"},"modified":"2023-03-07T16:23:43","modified_gmt":"2023-03-07T16:23:43","slug":"lower-saloum-nam-taking-loans-is-not-a-problem-implementation-is","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/lower-saloum-nam-taking-loans-is-not-a-problem-implementation-is","title":{"rendered":"Lower Saloum NAM: \u201cTaking Loans Is Not A Problem, Implementation Is\u201d"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>The National Assembly Member for Lower Saloum, Hon. Sainey Jawara, said taking loans is not a problem, but the implementation of the projects is the problem in the Gambia. <\/b><\/p>\n

\u201cTaking loans for 8 million Euros is not small money. If you check the exchange rate of 8 million Euros loan in dalasis, estimated it will take you around 26 million dalasis. Taking loans is not a problem, but the implementation is always a problem. If we agreed to pass this agreement now, the burden lies on the citizens,\u201d Hon. Jawara said.<\/p>\n

Hon. Jawara said he is supporting this loan because it is going to the health and the education sector but demurred the history of project implementations in the country.<\/p>\n

\u201cWe are taking these loans for our people. I will register my support because it is going to the health care services and schools. I am in support of this agreement. But implementation is always my problem. Grants always come with a way to implement them. If you are tasked to implement a grant that you cannot obey the rules and at the end of the day, they take it back. But the loans as long as you agree to pay, whether the project is Successful or not, you are going to pay that loan,\u201d Hon. Jawara stated.<\/p>\n

Hon. Jawara further asked for the authorities to help them (NAMs) fully understand the content of the loans.<\/p>\n

\u201cBecause if you check on the procurement, it was not well-designed. The maintenance and the sustainability of the project also are not well said in the agreement,\u201d He stated.<\/p>\n

Hon Jawara said the foreign exchange rate should be checked due to its fluctuating nature between when loans are ratified and when they come due.<\/p>\n

\u201cWhy not check on the foreign exchange? Because if you design this 8 million Euros whether they will take the exchange for today when it is passed in the parliament or the way the exchange is taking in the country is the way they are going to pay this loan. That is my doubt\u201d he asked.<\/p>\n

Hon. Jawara made these remarks at the Parliament earlier on Monday<\/p>\n

While they (NAMs) were considering and ratifying the Financial Agreement between the Government of the Republic of The Gambia and the European Investment Bank on the Electricity Restoration and Modernisation Project (GERMP) also called Gambia Renewable Energy Project (GREP).<\/p>\n

The Bill was tabled by the Minister for Energy and Petroleum Hon. Abdoulie Jobe on behalf of the Minister of Finance and Economic Affairs Hon. Seedy Keita, who is currently out of the Jurisdiction.<\/p>\n

Hon. Jawara asked the Minister to elucidate on the impact of the loans.<\/p>\n

\u201cBecause they will only tell us the beauty of loans. Every loan that we ratify here always comes with a grant. But at the end of the day, it fails. Can\u2019t you see the Nema project, it also failed? We are still paying the loans, but they took back all the grants to their banks. So, tell us because you are technocrats. What are the realities on the sustenance because sustainability is also very important,\u201d he said.<\/p>\n

Hon. Jawara made these remarks at the Parliament earlier on Monday While the NAMs were considering and ratifying the Financial Agreement between the Government of the Republic of The Gambia and the European Investment Bank on the Electricity Restoration and Modernisation Project (GERMP) also called Gambia Renewable Energy Project (GREP).<\/p>\n

The National Assembly is currently in its first extraordinary session of the 2023 legislative year.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. The National Assembly Member for Lower Saloum, Hon. Sainey Jawara, said taking loans is not a problem, but the implementation of the projects is the problem in the Gambia. \u201cTaking loans for 8 million Euros is not small money. If you check the exchange rate of 8 million Euros loan in dalasis, […]<\/p>\n","protected":false},"author":84,"featured_media":31155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[2355,2361,260],"class_list":["post-31156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-gambia","tag-gambia"],"yoast_head":"\nLower Saloum NAM: \u201cTaking Loans Is Not A Problem, Implementation Is\u201d - Gambia<\/title>\n<meta name=\"description\" content=\"The National Assembly Member for Lower Saloum, Hon. 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