FGIS signs its first transport infrastructure pre-concession contract with the Government

The GaboneseSovereign Wealth Fund (FGIS) and its subsidiary RISE, an innovative financing vehicle co-owned with the Islamic Development Bank, announce, on September 1,2021, the signing of the first pre-concession contract with the Gabonese State.

This agreement, which comes less than one year after the creation of RISE, concerns the design, development, financing, construction, and future operation of a toll road for the southern of the Libreville agglomeration, known as Owendo Bypass, which will connect the port to the industrial zone and road traffic from the interior of the country.  bypassing the city.

The pre-concession agreement will allow the Société d'Aménagement du GrandLibreville (SAGL), a company created by RISE for the development of this project, to invest in all the studies necessary for the economic, financial, legal, environmental, social, and technical structuring of the Owendo Bypass project.

Established inOctober 2020 as part of a partnership between the Gabonese Republic, represented by the FGIS, and the Islamic Development Bank, RISE (or Regional Investment Supranational Entity) is dedicated to the structuring and development of infrastructure projects in Public-Private Partnerships. Its current project portfolio consists, in addition to Owendo Bypass, of projects in the field of rail.

"This project highlights the government's ability to mobilize innovative mechanisms for the implementation of the Transformation Acceleration Plan (PAT). It also confirms the momentum underway to achieve the completion of all the projects provided for in the Plan. " said Léon Armel BOUNDA BALONZI, Minister ofPublic Works, Equipment and Infrastructure.

As a reminder, the Gabonese Fund for Strategic Investments is the exclusive manager of theSovereign Fund of the Gabonese Republic and the unallocated participations of the Gabonese State portfolio. The Fund operates in three strategic sectors: infrastructure financing, support for SMEs and support for social sectors.