The Board of Directors of the African Development Bank Group approved on Friday, November 17, 2023, a loan of 33 million US dollars to Seychelles.

The funding provided by the ADB aims to support the implementation of phase III of the Governance and Economic Reforms Support Programme. The third phase of this program will consolidate and deepen reforms to strengthen economic resilience and address climate change. The focus will be on strengthening fiscal sustainability by improving tax revenue collection and governance in the public sector and state-owned enterprises, and by consolidating the financing framework for combating money laundering and terrorist financing. The program provides for the upgrade of the automated customs data system, which involves express mail, the electronic manifest, and excise tax modules