It wants to raise between FCFA 100 to 110 billion before the end of 2014.

The government of Gabon has offered treasury bonds for sale at the Bank of Central African States (BEAC) counting for the last quarter of 2014 with the aim of raising between FCFA 100  to 110 billion  for the public treasury by the end of 2014, Gabon Eco reported on Saturday, October 18, 2014. In this connection, it is offering seven bonds in the market in order to raise the needed finances before the year ends.

Reports say a total of FCFA 75 billion has to be raised in at least six offers of treasury bonds and the duration for their maturing being between 26 to 52 weeks.  The first operation of this nature took place last week on October 15 but failed to meet the needs of the Gabonese public treasury.  Government targeted to raise FCFA 15 billion but only ended up raising FCFA 9.6 billion, representing 65.33 per cent.

The next operation will take place this October 29. Two of the operations will hold in November and the last two scheduled for December 2014 all intended to rise to required amount, reports say.  Government holds tight to the operation of November 19, 2014 in which it targets to raise between FCFA 25 to 35 billion.

The money raised from the BEAC money market will contribute in the implementation of President Ali Bongo Ondimba’s vision of an emergent Gabon that hinges on a national infrastructure master plan. The plan gives priority to investment and development needs and also the balancing of commitments to sustainable development. Its medium to long-term infrastructure strategies are on major sectors such as transport, facilities, housing and energy.