Gabon has officially become a member of the Africa Finance Corporation (AFC), after signing the Instrument of Accession and Acceptance of membership.

The membership enables this country rich in natural resources but which development has been hindered by lack of infrastructure, to benefit from a status of privileged creditor, based on a communiqué published by AFC on 1st September.

Gabon is the tenth African country to become member of this financial institution headquartered in Lagos, after Nigeria, Cape Verde, Chad, Bissau Guinea, Guinea, Liberia, Sierra Leone and the Gambia.

"I am delighted to be able to make official Gabon's entry in the Africa Finance Corporation, an organisation which promotes growth and infrastructure development on the continent", the Gabonese minister of Economy, Régis Immongault (photo), quoted in the communiqué, was glad to say. "The excellent track record of the company showcases its capacity to work with governments and institutions of the private sector in order to provide innovative financing solutions for projects covering a wide variety of sectors", he added.

"The vast natural resources of Gabon, the profusion of lands and the developing agriculture industry have great potential, for a sustainable growth and for diversification, provided that the adequate and necessary infrastructure be put in place", Andrew Alli, CEO of AFC maintained.

AFC is a multilateral financial institution created in 2007 with an initial capital of USD 1.1 billion and which mission is to act as a catalyst for investments in infrastructure throughout the African private sector. Its principal shareholders are the member-countries as well as African financial institutions such as banking groups Ecobank, UBA, First Bank of Nigeria and the Central Bank of Nigeria.

The institution claimed global investments of over USD 2.5 billion in 22coutries.