Gabon to unleash $20.5m to support US-bound export over next three years
Gabon announced Thursday plans to inject around $20.5 million to support exports towards the U.S over next three years, reports say.
Yves Fernand Manfoumbi, the Minister of Trade of the African country, announced the move adding that the strategy will tap into support from bilateral and multilateral financial partners.
“This strategy will be financed by multilateral and bilateral financial partners and, of course, by direct financing from the State’s resources,” Manfoumbi said.
“The activities planned each year will be subject to adjustments and programming when necessary,” he added.
Gabon exports to the U.S through the African Growth and Opportunity Act (AGOA) and has been on the increase since last year.
AGOA will come to an end in 2025 after it was extended in 2015 for another 10 years.
The Act was passed in 2000 to allow African countries to export to the US market.