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Seychelles signs second pioneering project with financing partners

Seychelles signs second pioneering project with financing partners ( The Seychelles government has signed yet another landmark project with funding partners, the European Investment Bank (EIB), for a sum of EUR 27 million for a water and sanitation project for the Seychelles Public Utilities Corporation (PUC).

This innovative financing project, the second of its kind to be signed with Seychelles following the Internet submarine cable project launched in 2011, was described as a prime example of sustainable financing by the Minister for Foreign Affairs, Mr. Jean-Paul Adam:

“When we talk about sustainable development, we need to look at sustainable financing. Traditionally, Small Islands Developing States [SIDS] like Seychelles have always had difficulty in raising large-scale funding for development projects, which has forced us to borrow at commercial rates, thereby contributing to a high debt burden," said the Minister.

The project, which is being co-financed by the “Agence Française de Développement," the European Union and the African Development Bank, was signed by the Principal Secretary for Finance, Mr. Ahmed Afif, and the EIB Head of the Southern Africa and Indian Ocean Division, Mr. Serge Klumper.

The financing is being provided on concessionary terms and also include a component of technical assistance grants from the European Development fund (EDF).

Also present at the signing was the Head of the European Delegation to Seychelles, Ambassador Alessandro Mariani, and French Ambassador to Seychelles, Mr. Philippe Delacroix, as well as representatives from the Ministry of Finance, the Ministry of Foreign Affairs, the EU, and PUC.

Specific projects to benefit from the program include an extensive program to reduce non-revenue water, including both technical and commercial losses; increasing the capacity of 4 existing desalination plants on Mahé, La Digue, and Praslin; improvements to the Hermitage and Cascade water treatment plants; a first time sewerage system on La Digue; and extensions to the Mahé sewerage network. The water network will also be rationalized to improve pressure management and reduce leakages.

In addition to these projects, grants will be provided for a capacity-building program at the Public Utilities Corporation.

PUC's CEO Mr. Philip Morin has said that these projects will enable PUC to give better water and sanitation services, increase and optimize operational performances, and generate a higher level of environmental performance. “The direct social impact these projects will have on the population will be the improved social wellbeing of the nation as service will improve," said Mr. Morin.

MEDIA CONTACT: Alain St.Ange, CEO, Seychelles Tourism Board, Email:

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