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Thursday, 26 April 2018

EU support for upgrading Seychelles’ main harbour

EUR 12.5 million loan from the European Investment Bank (EIB) coupled with EUR 5 million European Union (EU) grant to finance modernisation and enlargement of Seychelles’ main commercial harbour, Port Victoria. Agence Française de Développement (AFD) also to provide EUR 16.5 million loan to project. EUR 2 million worth of technical assistance will also be put at the disposal of the SPA. During a public ceremony held in the presence of H.E. Danny Faure, President of the Republic of the Seychelles, agreements were signed between the European Investment Bank, the European Union and the Seychelles Ports Authority to finance the rehabilitation and expansion of the commercial part of the Port Victoria harbour. On the same occasion, the French development agency (AFD) also signed a memorandum pledging a loan in support of the project. The project entails the detailed design and construction of a new quay, offset from the existing quay, and demolition as necessary of the existing quay. The port’s yard area will be extended and dredging works will be carried out, allowing larger vessels into the harbour and increasing overall port capacity. The interventions will mean an increase in the port’s safety and environmental performance in the handling of goods, and overall improvement of the efficiency of port operations.  EIB Vice-President Ambroise Fayolle commented: “The European Union is by far the largest trading partner for the Seychelles, making it all the more important for the EU to support this project. Through it, the local port authority will be able to ensure the secure and environmentally sound handling of goods, while the port’s capacity will also be enlarged.

Source: European Investment Bank