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Gabon’s Economic Outlook Improves

The African Development Bank (AfDB) lifted financial sanctions imposed in 2022 following the coup that ousted President Ali Bongo. The sanctions had a significant impact on Gabon’s economy, limiting the country’s access to international financing and disrupting its trade and investment flows. The removal of sanctions is a crucial development, as it allows the country to resume receiving loans and grants from the AfDB for its domestic projects. This will boost economic growth and create opportunities for its citizens. The talks in the Republic of Congo focused on the economic situation in Gabon and the AfDB’s support for its recovery and development. The AfDB has provided support through the financing of more than 20 projects in a variety of sectors in Gabon, such as infrastructure, energy, agriculture, health, education, and governance.

SOURCE: VENTURES AFRICA