(Ecofin Agency) - On the sideline of the council of ministers recently held in Libreville, Gabon, it was decided that an agricultural development fund would be established. The project will be further debated during a symposium, whose date is yet to be known.

The symposium, which will gather public and private operators of the sector, its various actors, and media, will promote exchange and facilitate the creation of the fund which is highly expected by Gabonese farmers.

Given that agriculture represents only 3.8% of Gabon’s GDP, the new fund should help, according to authorities, the nation become more autonomous. Truly, Gabon has been importing over the past years substantial volumes of food products. This, despite having about 5.2 million ha of arable lands and favorable weather conditions (1,450-4,000 mm of average annual rainfall).

Statistics show that the nation spends more than FCFA300 billion in food imports each year. In 2015, it spent FCFA370 billion to import the products from America and the Occident mainly. This is explained by the government focusing on developing agribusiness, ignoring the agro-food industry.

Auxence Mengue