|
|
| AfDB Grants €15m Loan to Seychelles |
|
The AfDB has granted a loan of €15 million to the Government of Seychelles as part of balance of payments support to Seychelles. The loan was signed on August 25, 2009, in Tunis by PS Ahmed Afif for the Seychelles and Mr Kamal Elkheshen, Vice President (Sector Operations) of the AfDB.
PS Afif said that this loan was proof of AfDB’s support for the Seychelles reform programme which was acclaimed by the AfDB. He added that this financial assistance would help Seychelles at the crucial juncture of its development and bridge the country’s financing gaps for 2009. The loan will be disbursed in 2 tranches, €7.5m in 2009 and the balance in 2010. It is to be repaid over a period of 20 years. |
