The Gabonese government has announced that it has released 17.9 billion CFA francs to settle all of its payment arrears with the World Bank.
According to Gabonese authorities, this payment allows the country to honor its commitments to its financial partners by “lightening the heavy debt burden inherited from the management prior to August 30, 2023.” This move is expected to help restore and strengthen the confidence of the international financial community, which is essential to support Gabon's economic and social development.
The settlement also opens the possibility for the Central African country to once again benefit from the financial institution's funding, which had previously suspended disbursements due to accumulated unpaid debts.
This settlement follows a visit by a World Bank delegation to the Gabonese presidency, led by Cheik F. Kanté, Director of Operations for Gabon and West and Central Africa. During the visit, the World Bank reaffirmed its support for Gabon in the implementation of key structural projects. Among these initiatives are the e-Gabon and Digital Gabon projects, which aim to digitize the healthcare system to improve patient care and optimize health monitoring, while also supporting the development of digital services across various sectors.
Additionally, the World Bank plans to launch an investment project for the construction of urban roads and basic infrastructure in seven inland cities, while also providing support to Gabon’s Energy and Water Company (SEEG) to improve access to water and electricity.
