Seychelles and African Development Bank have very good collaboration, says senior bank official

The African Development Bank delegation with President Wavel Ramkalawan, the Minister for Finance, National Planning and Trade, Naadir Hassan, and the Central Bank of Seychelles' governor, Caroline Abel, at State House (State House)

(Seychelles News Agency) - The director for Governance and Economics Reforms at the African Development Bank, Coulibaly Abdoulaye, has said that during his delegation’s visit to Seychelles, they were able to discuss the economic performance of the country and collaboration with the of the Bank with Seychelles.

He made the statement after a meeting with Seychelles’ President Wavel Ramkalawan at State House on Tuesday.

“We have a very good collaboration; the Bank recently approved $25 million of budget support for Seychelles to help the country in the implementation of its budget as an assistance…We have given support to many countries in terms of financing, especially following the COVID-19 pandemic. This includes Seychelles,” explained Abdoulaye.

He added that their delegation is in the country currently to discuss further cooperation with Seychelles.

The development bank is also organising a two-day workshop in the country, with other partners, such as the UK and the African Beneficial Ownership Transparency Network, starting on Wednesday, to the fight against illicit finance activities and to put in place a network between African countries. This is meant to facilitate the implementation of beneficial ownership lists that are effective on the continent.

“The continent loses a lot of money from illicit activities. This two-day workshop, which has been named ‘Africa transparency of beneficial ownership’, is meant to promote best practices and the establishment of a network between African countries,” concluded Abdoulaye.