AFDB Executive Director for the East African Constituency, pays courtesy call on Minister for Finance, Trade & Economic Planning
March 27, 2018
A delegation from the African Development BANK, AFDB, effected a courtesy call on the Minister for Finance, Trade and Economic Planning, MFTEP, Dr. Peter Larose, this morning, at Liberty House. The delegation, was comprised of ADFB's Executive Director for Seychelles, Dr. Nyamajeje Calleb Weggoro, his Senior Advisor, Mr. Amos Chepto and Dr. Tilahun Temesgen, Seychelles Country Economist. The meeting was also attended by the Principal Secretary for Economic Planning, Elizabeth Agathine and Ms Franca Sicobo, Economist at the MFTEP.
The focus of their mission is to continue the dialogue on issues regarding enhancing Seychelles’ relationship with the African Development Bank, and to conduct field visits to appreciate the status of project implementation and impact of the Bank's support. The Bank is also expected to review progress made towards the implementation of issues that emerged during the last visit to Seychelles in December 2016 and discussions held on the side-lines of the FDB Annual Meeting in Almedabad.
AFDB has always been an important and continuous development partner for Seychelles, providing technical assistance in a number of reform areas and funding development projects; notably in the Public Private Partnership, PPP. It is expected that economic competitiveness will also be strengthened through a series of public sector efficiency reforms, including the development of a Public Private Partnership (PPP) policy, considered as crucial in the context of fiscal consolidation and critical to opening up new sectors and opportunities for investors.
In September 2015, Seychelles received US $10-million loan from the African Development Bank to support the Government's Inclusive Private Sector Development and Competitiveness Programme.This budget-support loan, is designed to ensure continuity and deepening of reforms supported under the first phase. The Inclusive Private Sector Development and Competitiveness Programme - phase II (IPSDCP-II), aims to achieve inclusive and sustained economic growth through enhanced competitiveness of the economy of Seychelles. It also supported a series of reforms to address key constraints to private sector development, focusing on Small and Medium Enterprises (SMEs).
In addition, the programme was also expected to support the implementation of the financial sector development implementation plan, specifically relating to strengthening the regulatory framework and transparency of the non-banking financial sector.