Gabon - African Development Bank and Government Host National Consultations to Review the Country Diagnostic Note and Country Strategy Paper 2016-2022

21 June 2022
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African Development Bank (Abidjan)
press release

The African Development Bank will join the Gabonese Government to host national consultations on the Country Diagnostic Note and Country Strategy Paper for the 2016-2022 period in Libreville, from 21 to 24 June. Key stakeholders in the discussions will include the Ministry of Recovery and Economy, technical departments of sectoral ministries, financial partners, civil society, academics and the private sector.

"The Country Diagnostic Note provides the analytical basis for preparing the Country Strategy Paper, the strategic and programming tool for the Bank's operations in Gabon, for the 2023-2027 period, " says Nouridine Kane Dia, African Development Bank Country Manager in Gabon.

The Country Diagnostic Note identified seven priority areas of intervention to propel Gabon's sustainable development and these will be scrutinized during the national consultations. In addition to improving governance, the draft note also explores ways to enhance the business climate by developing the private sector, diversifying investment in agriculture and promoting agro-industry, and deepening the country's industrialization process in timber, mining and hydrocarbons.

The Country Diagnostic Note projects a favorable economic growth for 2022 and 2023: "The economic recovery that began in 2021 is expected to continue in 2022, due to the recovery in oil prices and strong demand for export products (oil, manganese, wood, and palm oil). The African Development Bank forecasts an economic growth rate of 3.3% for 2022 and 3.4% for 2023."

The national consultations will review projects implemented under the current (2016-2022) Country Strategy Paper. The African Development Group is currently funding three major projects comprising the first phase of the Infrastructure Sector Support Project, the water component of the Integrated Drinking Water Supply and Sanitation Programme and the Graine Programme Support Project - Phase 1 of the Capacity Building for Youth Employability and Social Protection Improvement Project.

As of 31 May 2022, the Bank Group's active portfolio in Gabon consisted of 10 projects with a total value of €730 million. The investments cover governance, agriculture, water and sanitation, social development and transport.

Contact:

Alexis Adélé, Communication and External Relations Department: media@afdb.org

Read the original article on African Development Bank (AfDB).

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