Gabonese president Albert-Bernard Bongo and French Ambassador Maurice Delauney signed two financial agreements in Libreville last Saturday (February 26) which will add 275 million francs CFA (about 400 thousand pounds sterling) to the Gabonese economy.

One agreement provides for a French subsidy of 35 million francs CFA (about 53 thousand pounds sterling) toward the development of Gabonese cocoa production over the next year. The other allows for a French loan of 240 million francs CFA (about 364 thousand pounds sterling) for the building of an earth station to be linked to the existing satellite telecommunication system.

SYNOPSIS: In Libreville, Gabonese President Albert-Bernard Bongo nits with French Ambassador Maurice Delauney before the signing of two financial agreements on February 26.

The new accords provide Gabon with 275 million francs CFA of French economic assistance in fields as diverse as cocoa production and satellite telecommunications.

An eighth of the development funds will be used to subsidise Gabonese cocoa production over the coming year, while the bulk of the French loan will be used to complete the building of an earth station for satellite telecommunication services. Signatures completed, and the agreements become official.