IFC, Proparco, and SETRAG Secure €312 Million for Trans-Gabon Railway Modernization
The International Finance Corporation (IFC), Proparco, and the Société d'Exploitation du Transgabonais (SETRAG) have signed a €312 million financing agreement to advance the modernization of the Trans-Gabon Railway. This initiative is part of the Gabon Railway Modernization and Safety Program, which aims to enhance the railway's infrastructure and systems. The project is supported by SETRAG's shareholders, including Eramet Comilog, Meridiam, and the Gabonese State. The funding will be used to renew the 648-kilometer railway line connecting Owendo to Franceville, improve safety, and expand services beyond the mining sector. The railway is crucial for Gabon's economy, contributing significantly to its GDP and facilitating the transport of manganese, a key mineral for global industrial value chains.