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Gabon seeks to borrow 1.4 Billion USD from financial markets

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Gabon seeks to borrow 1.4 Billion USD from financial markets

The Gabonese Treasury plans to borrow a significant sum of 854 billion CFA francs, equivalent to 1.4 billion USD, from the financial markets of Central Africa in 2024. This initiative aims to finance major infrastructure works and social projects in the country.

Loan to support government policies and actions in Gabon

During a March 25, 2024 meeting, the Ministry of Budget outlined its strategy to attract investors and raise the necessary funds. Alongside the Director General of Debt and Treasury, Minister of Budget Charles M’Ba emphasized the importance of this loan for Gabon’s development. On behalf of the Gabonese government, he stressed that the funds raised would be allocated to key projects identified in the National Development Plan of Transition.

« This investment will finance infrastructure such as roads, ports, and schools while supporting efforts for social solidarity to improve the daily living conditions of Gabonese citizens », he explained.

Despite concerns about increasing debt, the Minister assures that the funds raised will be used responsibly and transparently. « It is essential to ensure that this debt truly serves the objectives set by the President of the Republic » Minister M’Ba emphasized.

Seeking potential investors in the Sub-region

In the coming months, Gabonese delegations will travel to Douala and Brazzaville to mobilize other potential investors. This initiative aims to ensure the fundraising operation’s success and implement the country’s development projects.

This initiative underscores Gabon’s commitment to investing in its future and improving the living conditions of its population. By mobilizing significant financial resources, Gabon is equipping itself with the means to achieve its growth and socio-economic development ambitions.

In a context marked by the urgency to meet the population’s needs, this loan constitutes a crucial step in implementing Gabon’s development policy. With rigorous and transparent management of the funds raised, the country will be able to realize its projects and strengthen its positioning on the regional economic stage.

Source: https://www.rfi.fr/fr/afrique/20240326-le-gabon-emprunte-1-3-milliard-d-euros-sur-les-marchés-financiers

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