Gabon Natural Resources Management Development Policy Loan

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The proposed Natural Resources Management Development Policy Loan aims to improve the efficiency of natural resources management in Gabon, to increase its impact on poverty alleviation, to protect the environment, and to reduce the country's dependence on declining oil resources. It covers renewable natural resources-forests, fisheries, biodiversity and environment-as well as the country's mining (mostly manganese) and oil sectors. With regard to forest, fisheries, biodiversity and environment, the proposed loan will support the reform agenda set forth in the May 2004 letter of Sector Policy which will be implemented through the national multi-donor Forest, Fisheries, Biodiversity and Environment Sector Program (FESP). The proposed loan will also support Gabon's participation in the Extractive Industries Transparency Initiative (EITI) for oil and mining revenues, and it will lay the foundation for broader reforms in the mining sector. Policies supported by the proposed loan focus on enhancing transparency, accountability and law enforcement, on improving the business climate, on ensuring equitable sharing of revenues, and on protecting the resource-base and natural ecosystems.