Seychelles - Micro, Small and Medium Enterprises (MSME) development project


Project Summary

Approval Date 03 Jun 2014
Signature Date 29 Dec 2014
Planned Completion Date 30 Jun 2020
Last Disbursement Planned Date 30 Jun 2020
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 32130
Commitment U.A 722,945.57
Status Implementation

Project General Description

The Seychelles micro, small and medium enterprises development (MSME) Development Project is supported by a US $1-million grant from the Fund for Private Sector Assistance (FAPA) of the African Development Bank. The project is complementary to the Seychelles Inclusive Private Sector Development and Competitiveness Programme (IPSDCP), a general budget support operation, approved by the Bank Board of Directors on December 3, 2013. It will support the Seychellois Government in their efforts to promote entrepreneurship and the role of small businesses in the development of the country. Under the project, a Seychelles MSME development strategy is being formulated and capacity building is being conducted for two government agencies in charge of MSME promotion, namely the Small Business Finance Agency (SBFA), an independent credit facility that provides micro-loans; and the Small Enterprise Promotion Agency (SEnPA), which provides training and capacity building of MSMEs.

Project Objectives

The Seychelles Micro, Small and Medium Enterprises (MSME) Development Project's objective is at enhancing the growth of Seychelles MSMEs in order to promote inclusive growth through addressing access to finance and entrepreneurial skills, two main constraints to MSME development in Seychelles.

Beneficiaries

The beneficiaries of the project are micro, small and medium-sized enterprises (MSMEs), aspiring entrepreneurs, the Small Business Finance Agency (SBFA) and the Small Enterprise Promotion Agency (SEnPA).

Participating Organization

Funding
Fund for African Private Sector Assistance
Implementing
Ministry of Finance

Information

IATI identifier 46002-P-SC-KB0-001
Last Update 06 Jul 2020

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Contact Details

Email fapa@afdb.org

Geographic Location

Country Seychelles