SEYCHELLES: ADB grants $33 million to finance sustainable urban development
The African Development Bank (AfDB) is lending $33 million to the Seychelles government to finance the energy transition and the circular economy, seven ahead of the assessment of national sustainable development policies.
Seychelles is making slow but steady progress in implementing the 17 Sustainable Development Goals (SDGs). The Board of Directors of the African Development Bank (AfDB) Group has just approved a $33 million loan to support inclusive and green growth for 107,000 Seychellois.
This funding will, for example, enable the implementation of the Governance and Economic Reform Support Program ( GERSP ) launched in 2021. Its third phase aims to strengthen the economic resilience of populations in the face of climate change which affects the 115 islands of the archipelago located in the Indian Ocean. The ADB's support will mainly focus on financing the energy transition and the circular economy.
“It will initially be a question of carrying out reforms to remove the constraints linked to the business environment. Objective, to enable local small and medium-sized enterprises (SMEs) to better participate in international trade while encouraging the production of clean energy and better waste management practices,” indicates the financial institution headquartered in Abidjan on the Coast. of ivory.
This envelope will also allow Seychelles to move forward in its ambition to decarbonize road traffic by 2030. In this regard, the government of this country located off the coast of East Africa announced in 2022 that it would was to introduce 22 electric buses into the fleet of the Seychelles Public Transport Company (SPTC). These machines, which will circulate mainly in the capital Victoria, will help reduce “95% of CO 2 emissions generated by the combustion of fuels for electricity and transport” , according to official figures.
