Gabon has disbursed nearly 18 billion CFA francs to clear its arrears with the World Bank, aiming to rebuild investor confidence and revive international funding opportunities.
Gabon has taken a significant step in improving its public financial management, announcing on March 19, 2025, the payment of 17.9 billion CFA francs to settle its outstanding debt with the World Bank. This move comes amid international pressure, as some funding had been frozen due to accumulated arrears.
Described as a priority by the government, this payment seeks to enhance the country’s credibility with financial partners. The Ministry of Budget and Public Accounts clarified that the arrears stemmed from mismanagement prior to General Brice Clotaire Oligui Nguema’s rise to power on August 30, 2023. Officials emphasized that this settlement is vital for cleaning up public finances and fostering a stable environment for future funding.
However, despite this positive signal, Gabon continues to face significant challenges. Public debt currently stands at 8,000 billion CFA francs, equivalent to around 70% of GDP. Besides the World Bank, other lenders like the African Development Bank have also raised concerns over the nation’s financial health.
A recent visit by a World Bank delegation, led by Cheik F. Kanté, Director of Operations for West and Central Africa, underscores renewed interest from international institutions in Gabon. Discussions centered on developmental initiatives, including “e-Gabon” and “Digital Gabon,” aimed at modernizing the healthcare system and boosting digital innovation.
Future projects include urban infrastructure upgrades in seven interior cities and support for Gabon’s energy and water utility (SEEG) to improve access to electricity and clean water.
With an active project portfolio valued at $214.5 million as of July 9, 2024, the World Bank remains a key development partner for Gabon. By addressing its arrears, Libreville sends a strong message to investors and international donors, paving the way for new economic growth opportunities.
