|Approval Date||03 Dec 2013|
|Signature Date||06 Dec 2013|
|Planned Completion Date||31 Dec 2014|
|Last Disbursement Planned Date||31 Dec 2014|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The Seychelles Inclusive Private Sector Development and Competitiveness Programme (IPSDCP) is a USD 20 million Programme-Based Operation (PBO) supporting the reform agenda of the Government of Seychelles (GoS). Undertaken in an environment characterized by macroeconomic and political stability, moderate fiduciary risk, and strong government commitment to key reforms in the areas covered by the IPSDCP, the programme will be the Bank’s second general budget support operation in Seychelles. The IPSDCP is designed as a two year programme supporting the national budget of fiscal years 2013 and 2014. It is supporting the implementation of a multi-year reform programme in conformity with the Seychelles 2017 Strategy (the GoS’ main policy document guiding reforms since 2007), the Medium-Term Expenditure Framework (MTEF), as well as the draft Medium-Term National Development Strategy (MTNDS). Programme outputs include policy reforms addressing the key constraints to private sector development (PSD) and strengthening GoS public financial management (PFM) systems. The operation is fully complementary to a parallel Development Policy Loan (DPL) Programme from the World Bank and the GoS is considering establishing a common steering and monitoring and evaluation framework for both operations.
The overarching goal of the IPSDCP is to strengthen competitiveness to promote inclusive, sustainable and resilient economic growth. This goal will be achieved through two complementary operational policy objectives, namely: (a) improving the enabling environment for PSD and investment by addressing existing constraints (including access to finance, regulatory barriers, and internal competition); and (b) strengthening PFM systems to support PSD and maximize public sector efficiency in a context presided by fiscal consolidation thus enabling the GoS to invest in economic infrastructure and enhance the quality of public services. Expected outcomes include: (a) improvement in market efficiency (with an expected increase in the goods market efficiency component of the Global Competitiveness Index from 4.3 in 2012 to 4.6 in 2014); (b) easier access to finance, in particular for domestic MSMEs (with the expansion of the portfolio of the Small Business Financing Agency (SBFA) to at least 500 MSMEs with a total SCR 70 million at year-end 2014, from 355 MSMEs and SCR36.7 million in 2012, with specific targets for MSMEs operated by women); and (c) improvement in key PEFA indicators linked to the business enabling environment (PI-19.iii Public access to procurement information, from C+ in 2011 to B in 2014; and PI-27 iii Adequacy of time for the legislature to provide a response to budget proposals, from D in 2011 to B in 2014).
The direct beneficiaries of the Programme will be the Seychellois private sector actors, and in particular MSMEs (with specific emphasis on those owned/operated by women and youth), as well as key GoS agencies and departments. The entire Seychellois population will benefit indirectly through the programme’s expected impact on inclusive growth and job creation.
African Development Bank
Ministry of Finance, Trade and Investment (MFTI)
Ministry of Finance
|Last Update||01 Apr 2023|
|Name||LEIS GARCIA Anton|