Gabon welcomed the removal of the African Development Bank (AfDB) sanctions, imposed on the country in response to the military coup in late August, Gabon's Economy Minister Mays Mouissi said.
"I welcome the lifting of the AfDB sanctions against Gabon and the resumption of disbursements in favor of the various projects. This decision rewards weeks of work in order to calm relations between Gabon and its donors," the minister posted on X, formerly known as Twitter.
According to the country's Ministry of Economy and Participations, the bank's decision, which contributes to "the restoration of trust with the multinational financial institution," was made on November 6.
"On November 6, 2023, the African Development Bank (AfDB) took the decision to lift the sanctions imposed on Gabon, thus marking a major turning point in the restoration of trust with the multinational financial institution," the ministry's statement read.
The ministry revealed that discussions regarding the issue between the Gabonese interim government and the AfDB officials started in October in Morocco's capital, Marrakech, and continued in the Republic of Congo. Moreover, repayment of Gabon's debts to the AfDB at the end of October facilitated the lifting of the sanctions, the ministry said.
The move enables the African state to gain AfDB loans and grants for its projects. The financial institution is the first international body to abolish its punitive measures against Gabon since the coup.
As for other sanctions against Gabon, the African Union Peace and Security Council along with the Economic Community of Central African States suspended the country's membership after the coup. Moreover, the United States decided to halt most of its aid to the African state.
On August 30, Gabon witnessed the military invalidate the outcome of the presidential election held on August 26, thereby denying Ali Bongo Ondimba a third term in office. The rebel-appointed leader and transitional president, General Brice Oligui Nguema said the change of the government in the country was a liberation and not a coup and proposed to adopt a new constitution for the country.