AfDB approve $370m loan for Gabon road project
30 September 2011
The African Development Bank (AfDB) has confirmed that a loan worth $370 million (£236 million) has been approved for a road project in Gabon.
It is the second phase of a programme designed to improve the transport infrastructure of the country.
Once completed, the project will save 38 per cent on vehicle operations as the travel time between Libreville and Tchibanga will drop from 13 hours to eight hours.
A number of jobs will also be created by the scheme, both directly through construction and indirectly with the tourism and agricultural sectors benefitting.
"The area of influence of the project is located in the southwest of the country, but isolated regions with high growth potential in agribusiness, mining and tourism," the AfDB observed.
Rural mobility is also set to be enhanced as bridges capable of handling automobiles will be constructed.
The objective of the first phase of the development was to cut transport costs by between 20 per cent and 40 per cent.