The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt.

Highlights:

● Afreximbank to provide $75M in USD under a five-year currency swap agreement
● Funds will finance rural-urban road links via the National Roads Authority
● Oakwood Green Africa to offer technical support for bond-backed transaction

The African Export-Import Bank (Afreximbank) has signed a $75 million currency swap agreement with the Central Bank of The Gambia to support road infrastructure development. The deal was formalized on July 23, 2025, during Afreximbank's 32nd Annual Meetings in Abuja, Nigeria.

Under the five-year arrangement, Afreximbank will provide US dollars in exchange for Gambian dalasi, allowing the country to finance critical road projects without tapping into its foreign reserves or adding to its external debt burden.

Proceeds from the swap will be used to develop road networks that connect rural areas with urban centers, aiming to ease the transportation of agricultural and industrial goods. The National Roads Authority (NRA) will oversee project implementation and issue bonds to back the transaction. These bonds will serve as collateral for Afreximbank.

Oakwood Green Africa has been appointed to provide technical assistance to both the Central Bank and the NRA.

The initiative aligns with Afreximbank’s broader strategy to accelerate infrastructure financing across Africa.

This article was initially published in French by Chamberline Moko

Edited in English by Ola Schad Akinocho