VICTORIA, Seychelles — A delegation from the International Monetary Fund (IMF) paid a courtesy call on President Wavel Ramkalawan at State House yesterday, as part of a visit to address Seychelles’ climate-related investment needs and mobilise resources for the country’s Nationally Determined Contributions, the National Development Strategy (2024–2028) and the Climate Finance Resource Mobilisation Strategy (CFRMS).
Following the meeting, IMF mission chief for Seychelles and assistant director for the Africa Department Catherine Pattillo said they briefed the President on the good momentum of Monday’s roundtable at the Savoy Seychelles Resort, where key national and international partners, including the World Bank, explored projects that can support the government’s effort in climate change. ‘We were very happy to have a lot of involvement from the Ministry of Finance, National Planning and Trade and the Ministry of Agriculture, Climate Change and Environment,’ Ms Pattillo said.
She noted that although Seychelles is a high-income country, which diminishes its chances to receive international funding, the IMF has a support programme with the country under which it is benefiting from a US$46 million Resilience and Sustainability Trust (RST) fund facility to address climate change and resilience. The RST fund started in May 2023, and Seychelles was the first country to benefit from it. ‘Seychelles benefits from high access fund from this facility which supports the country in the climate reforms you are doing,’ Ms Pattillo said. Vice-President Ahmed Afif, in charge of the Ministry of Finance, and Caroline Abel, Governor of the Central Bank of Seychelles, were also present.
