Development discussions held with delegation from Saudi Fund for Development
May 21, 2021
The Ministry of Finance, Economic Planning and Trade has hosted a delegation from the Saudi Fund for Development.
The meeting was held on Thursday 20th May, at Liberty House, chaired by Minister Naadir Hassan.
Present were the Designated Minister and Minister for Fisheries and Blue Economy, Jean-Francois Ferrari, and the Minister for Lands and Housing, Billy Rangasamy.
The meeting is the first, which the delegation from the Saudi Development Fund is having with the new government.
Discussions centered on how the Fund can provide assistance to Seychelles, especially in the area of infrastructure development.
Some priority areas have been identified, such as education, housing, and fisheries.
It was noted that while the government is pushing to diversify the economy, one of the biggest constrains it is presently facing is a lack of infrastructure, such as roads, and utilities.
The lack of these infrastructures due to financial pressures is impeding development of the economy.
All three Ministers present at the meeting, acknowledged the importance of the partnership between the Saudi Fund for Development and the Government of Seychelles.
The Saudi Development Fund is already active in providing financial assistance to Seychelles.
It is currently co-funding the construction of the 33KV network for the southern region of Mahe. It has provided a loan of $20 million towards the financing of the project.
During the mission the Saudi Fund for Development delegation will be meeting with the senior management of the PUC to discuss implementation of the 33KV south project as well as evaluate other projects in the utilities sector that could potentially be financed by the fund.
The Saudi Fund for Development was established in 1974 with the objective of providing development assistance to developing countries, by financing social and infrastructure projects.
The delegation of 4, afterwards, held a meeting with senior technical staff of the Ministry of Finance, Economic Planning and Trade, which included the Secretary of State within the Ministry, Patrick Payet, the Principal Secretary for Economic Planning, Elizabeth Agathine, Deputy Comptroller General, Astride Tamatave and the Principal Secretary for Infrastructure, within the Ministry of Lands and Housing, Yves Choppy.
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