Mr Lamin Dampha, the permanent secretary of the Ministry of Trade, Industry, Regional Integration and Employment (MoTIE) has stated that Climate change poses a significant threat to our planet and has far-reaching consequences for trade and economic stability.
According to him, sustainable development and climate action are inextricably linked, and addressing climate change requires innovative financing solutions. Hence, he noted that trade financing plays a crucial role in this context, as it enables the flow of goods and services necessary for climate resilience and mitigation.
PS Dampha was speaking on Friday during the opening ceremony of a day validation workshop on ‘The Green Industrialization through Special Economic Zones and Agropoles (GIEZA)’ Project held at the Sir Dawda Kairaba Jawara International Conference Centre.
MOTIE in partnership with the Enhanced Integrated Framework (EIF) has been working towards the development of a trade and climate change financing project proposal to support rapid industrialization in The Gambia. The proposed project is to support The Gambia in establishing Sustainable Economic/Industrial Zones (SEZs) along the Senegambia Bridge and three agro poles in selected strategic agriculture growing centers in West Coast Region, Central River Region and Upper River Region.
The selection and design of these industrial facilities would be based on key green and environmentally sensitive productive systems and market potentials of the Region.
Therefore, PS Dampha noted that The Gambia faces significant challenges in achieving its sustainable development goals, particularly those goals relating to targets on trade, employment, and manufacturing. In recognition of these challenges, he said, MoTIE through support from the EIF developed this project proposal.
“With increasing urbanization of the population dominated by over 60% of youth, poses serious challenges to the need to create employment opportunities. In These circumstances, such opportunities can best be created by the manufacturing and services sectors and thus the need for special economic zones to attract private sector investments in these sectors. The main goal of the project is to transform the Gambian economy from a highly primary commodity-dependent and low-cost tourism to a semi-manufacturing and processing as well as services-oriented economy in the medium to long term,” the Trade PS stated.
PS Dampha said that the Government is committed to consolidating its strong ambition and commitment to climate change by integrating the identified mitigation measures into national planning processes. However, he mentioned that the recently validated 2050 Climate Vision of The Gambia and the new Green Recovery Focused National Development Plan 2023-2027 underscored the high level commitment to de-carbonization, strengthening resilience, and mitigating the impact of climate change to attain The Gambia’s targets in the Sustainable Development Goal as well as objectives of the National Trade Policy (2018 – 2022) and the National Industrial Policy and Trade Strategy aimed at contributing to the national economic transformation agenda of the government.
According to him, this project is aligned with Government’s private sector and agricultural development programmes in the new National Development Plan and is part of the activities to implement the AfCFTA National implementation Strategy by repositioning the Gambia to fully integrate into the regional and continental markets through agricultural and industrial transformation.
