Contacts:
In Washington
Aby Toure (202) 473 8302
akonate@worldbank.org
In Libreville
Patrice Etong Oveng (241) 73 81 71
petongoveng@worldbank.org WASHINGTON, November 15, 2005 – The World Bank Board of Directors today approved an International Bank for Reconstruction and Development (IBRD) loan of US$15 million to support the Government of Gabon’s efforts towards improved management of natural resources. The Natural Resources Management Development Policy Loan will support the implementation of Gabon’s sector program for forests, fisheries, biodiversity and environment, which is also backed by other development partners. The loan will also support Gabon’s implementation of the Extractive Industries Transparency Initiative in the oil and miningsectors. “Policies and actions supported by this operation focus on transparency and accountability, on protecting the environment, strengthening law enforcement, ensuring equitable sharing of revenues, and fostering public participation. By doing so, this project seeks to promote more socially and environmentally responsible practices, and to dissuade others.” said Laurent Debroux, Task Team Leader for the project. “It aims to help the government and local communities to access an equitable share of the revenues, and to curb illegal extraction of natural resources. The program includes measures such as the recruitment of a third-party observer for forest monitoring and the adoption of sustainable forest management plans.” Laurent Debroux added. This operation supports Gabon’s economic diversification and poverty reduction agenda, of which improved management of natural resources is a major component. It fits with the two pillars of the Country Assistance Strategy for Gabon discussed by the Bank’s Board of Executive Directors in May 2005: (i) strengthening the management of public resources, both natural and financial, for improved social outcomes; and (ii) improving the investment climate to foster sustainable, private sector-led growth. By supporting enhanced protection of Gabon’s natural resource endowment, this operation will contribute to Gabon’s sustainable development. With a focus on environment, the program will also directly benefit the global community. The loan will be complemented by a grant of US$10 million for national parks and biodiversity conservation from the Global Environment Facility. ### For more information on the World Bank’s work in sub-Saharan Africa visit: http://www.worldbank.org/afr For more information about World Bank’s activities in Gabon visit: http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/GABONEXTN/0,,menu
PK:352115~pagePK:141159~piPK:141110~theSitePK:352109,00.html For more information about the project, please visit: http://web.worldbank.org/external/default/main?pagePK=64027221&piPK=64027220&theSitePK=352109&menuPK=352143&Projectid=P070196 |
RSS