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EU, Seychelles sign new €2.2m funding accord

morganSeychelles has received €2.2 million through the 11th European Development Fund (EDF) to support its sustainable development programme and help to formulate new projects to attract new financing for development.

Marjaana Sall, the ambassador of the European Union (EU) to Seychelles and the Minister for Foreign Affairs and Transport Joel Morgan signed the financing agreement for the 11th EDF during a short ceremony at the Ministry of Foreign Affairs, Maison Quéau de Quinssy yesterday morning.

This was in the presence of French ambassador to Seychelles Lionel Majesté- Larrouy among other guests.

“The signing is testament of Seychelles and EU’s continued and fruitful cooperation which dates back a very long time,” Minister Morgan said.

He said the money will be used as financial development assistance to help the country address its institutional capacity constraints to ensure Seychelles policy-makers have sufficient information, technical resources and capacities to achieve the objectives of sustainable development.

Minister Morgan noted that even though funds to Seychelles under the 11th EDF have decreased substantially, “Seychelles is certain to use the funds wisely, where it would make the greatest impact for our population. We would like to reassure the EU that Seychelles will do its utmost, with vigorous efforts, to tap into other facilities currently put in place such as the 11th EDF Regional Programmes, which Seychelles hope to benefit from immensely”.

“Seychelles may have graduated to a high income country due to our hard work and strong commitment to reforms which are bearing fruits  but nevertheless as a small island developing state our vulnerabilities still remain,” Minister Morgan stressed.

Given our intrinsic characteristics, he urged the EU to look beyond the conventional criteria when providing us financial support.

For her part Ambassador Sall pointed out that the EU has contributed to almost every economic and social sector in Seychelles over the years with the aim of supporting the implementation of the sustainable development agenda of the government.

While she congratulated the government for the remarkable progress which has led to the country achieving high income status, Ambassador Sall recognises that this calls for a new form of partnership and one based not only on development cooperation but also on investment and trade.

“The 11th EDF programme spells out our cooperation for the next five to six years, which will further cement the good relationship that exists between the European Union and the Republic of Seychelles. Through these funds, the EU will help Seychelles to develop new projects which can then be presented for funding either under EU regional programme, or for financing by EU or other financiers including via blending operations,” ambassador Sall explained.

“The EU is committed to working with Seychelles on issues of common and global interest such as climate change, sustainable development goals, regional economic integration, peace and security including maritime security,” Ambassador Sall pointed out.

She availed of the opportunity to congratulate the Seychelles government for taking over the chairmanship of the contact group on piracy off the coast of Somalia.

“This is a strong signal of government commitment towards the fight against piracy in this part of the world,” she remarked.

Source : Seychelles NATION

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