The Gambia: Technical Assistance Report-Public Investment Management Assessment Update with the Climate Module

THE GAMBIA Public Investment Management AssessmentUpdatewith the Climate ModuleJANUARY 2025 Prepared By Bryn Battersby, Ian Hawkesworth,Natalia Salazar, Chathebert Mudhunguyo, RehemahNamutebi, Willie du Preez, Kubai Khasiani, and Tchaoussala Haoussia Fiscal Affairs Department The contents of this document constitute technical advice provided by the staff of the InternationalMonetary Fund to the authorities of The Gambia (the "CD recipient") in response to their request fortechnical assistance. Unless the CD recipient specifically objects to such disclosure, this document (inwhole or in part) or summaries thereof may be disclosed by the IMF to the IMF Executive Director for TheGambia, to other IMF Executive Directors and members of their staff, as well as to other agencies orinstrumentalities of the CD recipient, and upon their request, to World Bank staff, and other technicalassistance providers and donors with legitimate interest (seeStaff Operational Guidance on theDissemination of Capacity Development Information). Publication or Disclosure of this report (in whole orin part) to parties outside the IMF other than agencies or instrumentalities of the CD recipient, World Bankstaff, other technical assistance providers and donors with legitimate interest shall require the explicitconsent of the CD recipient and the IMF’s Fiscal Affairs Department. The analysis and policy considerations expressed in this publication are those of the Fiscal AffairsDepartment. This technical assistance (TA) was provided with financial support from the Government of Japan. Table of Contents Acronyms and Abbreviations _________________________________________________________6 Executive Summary _________________________________________________________________8 Recommendations _________________________________________________________________13 I. Public Investment in The Gambia ___________________________________________________15 A. Trends in Public Investment and Capital Stock __________________________________________15B. Composition and Financing of Public Investment________________________________________18 II. The Efficiency of Public Investment _________________________________________________22 III. Public Investment Management Institutions__________________________________________25 A. The PIMA Framework______________________________________________________________25B. Overall Assessment _______________________________________________________________26C. Investment Planning _______________________________________________________________29D. Investment Allocation ______________________________________________________________38E. Investment Implementation _________________________________________________________46 IV. The Climate PIMA _______________________________________________________________55 A. Climate Change and Public Infrastructure ______________________________________________55B. Climate Change Objectives and Strategies _____________________________________________56C. Climate PIMA Framework___________________________________________________________60D. Detailed Assessment ______________________________________________________________61 A. Legal and Regulatory Framework ____________________________________________________75B. Information Technology ____________________________________________________________76C. Capacity ________________________________________________________________________77 Boxes 1. The Port of Banjul Expansion ________________________________________________________21 3. Good Practice in Ex-Post Project Reviews and Acting on Findings ___________________________50 4. Minimum Requirements for Project Progress Reports _____________________________________50 5. Project Implementation Plans ________________________________________________________52 6. Status of Asset Registers in Gambia in July 2024 ________________________________________53 8. The NDC Implementation Plan _______________________________________________________62 9. Incorporation of Climate into PPP Contracting and Operation _______________________________66 Figures 1. The Gambia PIMA: Institutional Design and Effectiveness __________________________________92. The Gambia C-PIMA: Institutional Design and Effectiveness________________________________103. 2023 Estimated GDP Per Capita in The Gambia and Comparable Countries ___________________154. 2023 Estimated Debt to GDP in The Gambia and Comparable Countries______________________155. Public Investment and the Public Capital Stock __________________________________________176. Private and Public Investment _______________________________________________________177. The Gambia’s Public Capital Stock and Regional Comparisons _____________________________178. Public Investment by Ministry ________________________________________________________179. Sources of Donor Funding __________________________________________________________1810. Public Investment