Seychelles President Dr. Patrick Herminie met with Mr. Ronald Cafrine, Executive Director of the African Development Bank (AfDB),at the State House yesterday, Thursday, to discuss strengthening strategic partnerships aimed at advancing Seychelles’ development and economic resilience.
The meeting provided an opportunity to exchange views on the African Development Bank’s continued engagement with Seychelles. Discussions focused on cooperation in support of the country’s development priorities, economic resilience, and sustainable growth.
Mr. Cafrine highlighted the Bank’s achievements over the past few years, noting that global development aid has come under increasing pressure. He emphasized that these accomplishments reflect continued confidence among donors in Africa’s long-term development prospects.
He explained that AfDB assistance to member countries is guided by a Country Strategy Paper, developed jointly by the Bank and the government over a five-year period. With Seychelles’ current strategy cycle having concluded, preparations for a new framework are now set to begin.
Mr. Cafrine noted that the current moment provides an opportune context to revisit Seychelles’ National Development Plan, considering the newly elected administration and the preparation of the forthcoming 2026 national budget. He described the partnership between Seychelles and the Bank as both constructive and fruitful.
Currently, Seychelles benefits from a programme that includes a policy-based loan to support the national budget, alongside a grant providing policy advice and technical assistance. Mr. Cafrine underscored that, as a high-income country, Seychelles does not qualify for large concessional grants, and therefore primarily accesses AfDB support through loan instruments.
The discussion also examined the performance of the Seychelles economy and explored ways to further strengthen cooperation. Specifically, Mr. Cafrine highlighted the importance of improving access to AfDB financing for the private sector, emphasizing the need for enhanced outreach so that stakeholders are fully informed of available opportunities.
President Herminie congratulated Mr. Cafrine on his recent appointment and commended Seychellois for attaining high-level representation within international financial institutions. He also observed that Seychelles’ high-income status poses challenges in accessing concessional financing, and he inquired about alternative mechanisms to facilitate access to development financing.
Mr. Cafrine serves as Executive Director representing the Eastern Africa Constituency on the Board of the African Development Bank Group, effective 1 August 2025. (Mr. Cafrine is based in Côte d’Ivoire, where he is currently serving a three-year mandate.) In this capacity, he represents Seychelles alongside Rwanda, Kenya, Ethiopia, Eritrea, Somalia, South Sudan, Tanzania, and Uganda, contributing to decisions on the Bank’s policies, programmes, and financing priorities.
Also present at the meeting were Governor of the Central Bank of Seychelles, Ms. Caroline Abel, and Minister for Finance, National Planning and Trade, Mr. Pierre Laporte, who also serves as Chairman of the African Development Bank.
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State House