Africa Financial Sector Responses to COVID-19 - Gabon

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

This page presents measures and initiatives by the Gabonese government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description 

Financial support measures for the private sector

Government

USD 375 million

(April 29, 2020) Establishment of a public facility aimed mainly at small and medium-sized enterprises (SMEs) and enabling them to benefit from measures to defer the repayment of bank loans and subsidised loans at a maximum rate of 5.5% to cover in particular the payment of salaries, rents, water and electricity; provided that they are up to date with their tax and social security obligations.

Line of credit

Development Bank of Central African States (BDEAC)

USD 6,8 million

(June 23, 2020) This financing granted to COFINA Gabon is intended to support Gabonese SMEs in the development of their activities by financing in particular the purchase of new equipment or long and medium-term investments.