Gabon and the Islamic Development Bank (IDB) signed an associates pact on October 15 for the implementation of a new strategy for financing strategic projects called the Regional infrastructure supranational entity Gabon (Rise Gabon).
“Today, it is a new era which has just been inaugurated with the creation of this fund which will be called Rise and which is a collaboration between the IDB and Gabon”. It is in these terms that the Minister of the Economy and Recovery, Jean-Marie Ogandaga, welcomed, on October 15, the signing of the partners’ pact for the implementation of this new project financing strategy. strategic, Rise Gabon (Regional infrastructure supranational entity Gabon).
According to the Minister of the Economy, the signing of this pact with the Islamic banking institution is “the realization of the economic policy actions of the Head of State, His Excellency Ali Bongo Ondimba, who has established a partnership with the Islamic Bank of development ; a development partner who supports Gabon in certain projects ”.
Rise Gabon, specifies the Ministry of the Economy and Recovery, “will aim to finance the initial stages of projects considered to be strategic and financially profitable, within the framework of plans for raising the value chain and optimizing the competitiveness of sectors with high potential, by mobilizing the resources necessary for investment in international financial markets ”.
Concretely, it is about “the creation of an innovative financing instrument”. “Why ? Because until now, we have had the classic financing (Going into debt with a banker, with an institution, etc.), but this is something new. It is the creation of a fund that will guarantee all investments in Gabon, with the aim of increasing local added value, ” the Minister of the Economy and Recovery, who added that this instrument will make it possible to “Put in place conditions that ensure that the processing of local products benefits Gabonese and that there is more job creation”.
The signing of this agreement took place in the presence of the Minister for the Economy, Nicole Roboty and the Minister in charge of Foreign Affairs, Pacôme Moubelet Boubeya.
