The Gabonese government announces that the African Development Bank (AfDB) has lifted financial sanctions imposed on the country after the ousting of President Ali Bongo in a coup in August.
The Ministry of Economy stated that the decision was made earlier this week following successful negotiations between the new Gabonese authorities and senior AfDB officials.
Seperate rounds of discussions took place in October in both Morocco and the Republic of Congo.
The African Development Bank’s decision to lift sanctions was prompted by Gabon’s efforts to rebuild confidence, including clearing its arrears with the continental financial institution by the end of October, as disclosed by the ministry.
“I welcome the lifting of AfDB sanctions against Gabon and the resumption of disbursements in favour of various projects,” Gabon’s Economy Minister Mays Mouissi said on X, formerly called Twitter, adding that the decision “rewards weeks of work to calm relations between Gabon and its donors”.
The African Development Bank becomes the initial international institution to rescind sanctions on Gabon, a little over two months after the coup.
This development opens the door for Gabon to continue accessing loans and grants from the African Development Bank for its projects.