The International Monetary Fund said on Wednesday that it will release 129 million US dollars in the interest of the country of Mali as part of the rapid credit facilitation operations that will help the country meet the needs of the balance of payments.
The fund confirmed that the new plan came after Bamako’s need for a credit budget increased, especially after the recent floods in the country.
The country of Mali announced a national catastrophe due to the floods it struck last June and left more than 134 people dead and wounded, in addition to heavy losses caused by development facilities in the capital, Bamako, and many cities and villages in the northern regions.
The process of “facilitating rapid credit” in the International Monetary Fund aims to provide support in the form of one financing amount for low -income countries facing urgent needs to finance the balance of payments, and allows withdrawing frequent amounts over a limited period in the event of repeated or continuing payment balance needs.
In the context, the International Monetary Fund and the authorities in Gambia issued a joint statement yesterday regarding an agreement at the level of employees, which allows the Gambia to obtain a portion of the approved financing in 2024 with a value of $ 100.9 million.
The joint statement said that the agreement on the review will allow Gambia to withdraw 16.8 million dollars, provided that the fund’s board of directors approval, while a separate agreement between employees will allow the possibility of obtaining $ 65 million to enhance capacity and resilience in the face of climate change, which is suffering from the consequences of the Gambia.
