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As part of its efforts to decarbonize and diversify its economy, Gabon has announced the implementation of a “green finance” plan and new measures in this area.

Environmental projects in the maritime and forestry sectors were also announced. Gabon is 88% forested and boasts a vast maritime coastline, providing extremely substantial resources that remain under-exploited for the time being. The development strategy adopted is based on restructuring part of Gabon’s debt. Gabon plans to convert 3% of its public debt, i.e. $500 million, which will be invested in environmental projects by 2030.

Nearly $163 million will be invested in ocean preservation, for example. Some measures are already working. One example is the forestry economy, which has increased by 400% from 116 billion to 444 billion FCFA in 11 years.

By increasing the contribution of environmental products to GDP, Gabon is reducing its dependence on oil and strengthening its position as African leader in the fight against global warming.