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African Development Bank discusses funding land reclamation in Seychelles

Victoria, Seychelles | March 31, 2018, Saturday @ 08:00 in National » GENERAL | By: Salifa Magnan Edited by: Betymie Bonnelame | Views: 3086
African Development Bank discusses funding land reclamation in Seychelles

Nyamejeje Weggoro, ADB's executive director made a courtesy call at State House. (Patrick Joubert)

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(Seychelles News Agency) - Reclamation of land, an important issue in Seychelles that needs investment funds, is one issue that President Danny Faure and the executive director of the African Development Bank discussed on Thursday.

“The government of Seychelles wants to see it happen in the next five to six years in the country and the bank is prepared to help,” Nyamejeje Weggoro said during a courtesy call at State House in Victoria.

Other areas that the bank will help Seychelles finance are in the field of the blue economy, fisheries and tourism, sectors that are important to the island nation.

“There has been a lot of progress made in these areas of support from the bank and the bank is ready to provide more support,” said the executive director.

On his side, President Faure thanked Weggoro for coming to Seychelles and for all the support ADB has given to the island nation. He commended the executive director for the fundamental role that he is doing to further the relationship between Seychelles and the African Development Bank.

Weggoro and President Faure discussed important areas Seychelles needs investment. (Patrick Joubert) Photo License: CC-BY

Faure also said that despite being ranked as one of the high-income countries in the African region, Seychelles still faces challenges. He shared his vision for major infrastructures development and unlocking the economic growth for Seychelles as well as how the ADB can assist especially in providing facilities to the private sectors.

Cooperation between the African Development Bank and Seychelles started in 1978 and during his previous visit to the island nation in December 2016, Weggoro said the financial institution has provided assistance valued at around $134 million to Seychelles.

The economic and social developments of Seychelles, an archipelago in the western Indian Ocean, were also topics of discussion between Faure and Weggoro.

Talking about the policies of the bank, the executive director said that “we ask countries to come up with activities with proposals for financing - we are a bank and that is what we do.”

He added that if Seychelles wants help to invest in agriculture, it should not hesitate to contact the African bank.

Weggoro, a Tanzanian national, was elected in July 2016 as the executive director at the African Development Bank for the East Africa constituency. Apart from Seychelles, he also represents Rwanda, Uganda, Tanzania, Kenya, Ethiopia and Eritrea.

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Tags: African Development Bank, East Africa constituency

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