SETRAG III

pending

The Project consists of the financing of the third phase of the rehabilitation plan (Plan de Remise à Niveau Phase III, or “PRN Phase III”) of the Transgabonese railway in Gabon and the refinancing of part of the outstanding debt of Société d’Exploitation du Transgabonais (“SETRAG” or “the Company”), which operates the railway under a 40-year concession granted by the Republic of Gabon. The PRN Phase III mainly consists of (i) the upgrade of railway superstructure, (iii) the upgrade of traffic operational and safety systems and (iii) the implementation of E&S measures. The goal of the rehabilitation plan is to restore the railway’s design transport capacity to 16 train pairs per day. Mainly used for the transport of manganese ore destined for export, the railway is a vital artery for Gabon’s manganese, forestry sectors, passenger and freight transport (including basic necessities) and plays a central role in Gabon’s strategy to diversify its economy.