05.31.07

Seychelles benefits from ADB assistance

Posted in Business and Economy, International relations at 11:57 pm by Robert Klien

It has been previously suggested that Seychelles has good opportunities to benefit from assistance from the African Development Bank (ADB). The annual meeting of the ADB has already been discussed as well as it has been mentioned that the Seychelles’ delegation also took the opportunity to meet with such development partners as the Arab Bank for Economic Development in Africa (BADEA), OPEC Fund for International Development (OFID) and the Kuwait Fund in order to discuss on-going and future co-operation.

The results of the meetings are promising for Seychelles.

BADEA, OFID and Kuwait Fund are going to jointly finance construction of 2 schools on Ile Perseverance.

The ADB has decided to assist Seychelles with a grant in order to carry out a feasibility study to assess the electricity needs of Seychelles. Having returned from the annual ADB meeting, Patrick Pillay, the Minister for Foreign Affairs and International Cooperation, announced that a team from the bank is expected to come to Seychelles before the end of the year in connection with the study.

According to Pillay, the above-mentioned have been possible because of the good rating Seychelles is enjoying.

It is worth noting that Seychelles cleared all its arrears with the African lending institution earlier in 2006, and therefore it can enjoy more benefits that the bank offers as well as it can air its concerns in various forums.

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