Seychelles has taken a decisive step to improve its energy system by receiving a $25 million loan from the African Development Bank (AfDB). This financing, under the Economic Resilience and Green Recovery Support Program, aims primarily to promote access to renewable energy, aligning with the country’s priorities in economic diversification and climate resilience.
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The program focuses not only on investing in renewable energy infrastructure but also on optimizing public spending management in this key sector. Seychelles aspires to reduce its dependence on conventional energy sources by integrating clean technologies, thereby promoting a circular and sustainable economy. This strategy is in line with the National Development Strategy 2024-2028, which prioritizes climate change mitigation.
The transition to renewable energy is fundamental for Seychelles’ economic transformation, as its economy heavily relies on tourism and fishing. With the support of the AfDB, the government is committed to modernizing its energy infrastructure, creating new job opportunities, and fostering innovation in sustainable technological solutions.
The financing will also enable the implementation of more robust governance policies, mobilizing fiscal resources for investments in clean energy. These structural reforms reflect Seychelles’ commitment to environmental sustainability, ensuring that access to renewable energy not only drives economic growth but also protects the most vulnerable groups. With seven ongoing operations and a cumulative investment of $33.7 million, the AfDB continues to play a key role in the country’s energy transformation.