![[Gabon] AfDB invests €40 million to modernize port of Owendo](Images/2018/Africa development Bank.jpg)
[Gabon] AfDB invests €40 million to modernize port of Owendo
As the gateway for Gabonese imports and exports, the New Owendo International Port (NOIP) GSEZ, located south of the capital Libreville, is undergoing modernization.
To ensure its expansion, the Board of Directors of the African Development Bank have approved a loan of 40 million euros for Gabon.
Built in record time of 18 months and inaugurated in 2017, the GSEZ NOIP is a multimodal terminal that has its own integrated logistics services and has the largest fleet of vehicles in Gabon.
The loan will help develop the NOIP with, in particular, the extension of its current platform of 380 additional meters, and the development of logistics services that will accompany the rise of the port.
This new investment will increase the capacity of the new port in terms of bulk processing and point-to-point logistics services, and thus offer its users an even more competitive service and meet the needs of the Gabonese economy for years to come.
With an active portfolio with an estimated value of 763.3 million euros, Gabon is one of the Bank's three main clients. The activities that the Bank finances in Gabon as part of its Country Strategy Paper (CSP) for the period 2016-2020 are in line with the Bank's Strategic Plan for Emerging Gabon (PSGE) and High 5 Agenda.
