By Enyichukwu Enemanna
Junta-led government of Gabon says continental bank, African Development Bank (AfDB) has dropped financial sanctions imposed on the country, arising from the ouster of President Ali Bongo in a coup in August.
The economy ministry said the decision was taken at the beginning of the week after “successful negotiations between the new Gabonese authorities and senior AfDB officials”.
“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”.
Talks were held in October in Morocco and the Republic of Congo with regards to the lifting of the sanction.
The AfDB’s decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October, the ministry revealed.
The AfDB becomes the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The latest move creates room for Gabon to continue benefiting from AfDB loans and grants for its projects.
No official statement has been made by AfDB on the matter.