Gabon welcomes African Bank’s Lifting Of Sanctions

The Gabonese government says the African Development Bank (AfDB) has lifted financial sanctions imposed on the country following the removal 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”.

Separate rounds of talks were held in October in Morocco and the Republic of Congo.

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.

“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 AfDB becomes the first international institution to lift sanctions on Gabon since the coup just over two months ago.

The move paves the way for Gabon to continue benefiting from AfDB loans and grants for its projects.

The AfDB is yet to comment on this development.

BBC/Jide Johnson.