11.19.09

World Bank approves EUR 6.5 million loan for Seychelles

Posted in Business and Economy, International relations at 11:49 am by Robert Klien

The World Bank Board of Executive Directors has endorsed the Interim Strategy Note (ISN) for re-engagement with Seychelles and has approved a Development Policy Loan (DPL) of EUR 6.5 million to the jurisdiction.

After 17 years, the Interim Strategy Note is the 1st for Seychelles and lays out a 2-year Bank re-engagement strategy for the country.

The DPL that was approved by the Board will assist the country in implementing the economic reform programme.

It is an International Bank for Reconstruction and Development (IBRD) fixed spread facility with a 25.5 years maturity.

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