Seychelles Signs New Economic and Technical Agreement with China
Seychelles has signed a new Agreement on Economic and Technical Cooperation with China under which Seychelles will benefit from a 100 million RMB grant (approximately 15 million USD). The signing of the aforementioned agreement took place in the margins of the Coordinators Meeting on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC) Summit, between Ambassador Vivianne FOCK TAVE, Seychelles Ambassador to China, and Mr. QIAN Keming, the Chinese Vice-Minister of Commerce, on the 29th July 2016, in Beijing.
The grant will be utilised for the financing of key infrastructure projects such as the construction of a new building (including purchase of modern equipment) for the Seychelles Broadcasting Corporation (SBC) and other priority projects earmarked by the government.
The provision of this grant is in accordance with the 3-year Action Plan agreed by China and African countries at the FOCAC Summit, held in early December in Johannesburg last year, during which China pledged USD 60 billion in aid for the infrastructural and human capacities development of African countries over a period of three years.
Over the past 40 years since the establishment of diplomatic relations between the two countries, China has been a very important bilateral partner for the socio-economic development of Seychelles and has financed numerous social projects such as housing estates, schools, the National Assembly, Palais de Justice, among others.