En vue de la mise en œuvre de la première phase of the Programme to Support Economic Resilience and Green Recovery in the Archipelago, the Board of Directors of the Bank Group African Development Agency granted a loan of 25 million US dollars to Seychelles. It was September 27, 2024, in Abidjan

The loan granted by the ADB to Seychelles is the first in a programmatic series that covers the years 2024, 2025, and 2026. Through this operation, the ADB intends to support the efforts of the Seychelles authorities to improve the mobilization of corporate tax revenues, through the introduction of a new tax on the sustainability of the tourist environment

The funded program will contribute to the achievement of Seychelles' medium-term goals of improving access to renewable energy, strengthening inclusive growth and creating jobs, while maintaining fiscal flexibility and promoting debt sustainability. It will also enable the government to allocate reliable resources to its priority projects and programs and to protect the vulnerable population. The Bank's approved and ongoing portfolio in Seychelles includes seven operations for a total commitment of $33.7 million, as of 1 ^July 2024