SEYCHELLES TOURISM PRIVATE SECTOR GAINS ACCESS TO AFFORDABLE FINANCE
(Posted 07th June 2013)
Development loans for the Seychelles’ hospitality and tourism sector will become substantially more affordable for stakeholders wishing to renovate, upgrade or expand their properties, after the government and the French Development Agency AFD, short for ‘Agence Francaise de Developpment’ has made a 10 million Euro soft loan available for such purposes. France and the Seychelles maintain cordial if not outright friendly relations and this form of support, benefitting private sector development through lower cost loans, is one area of cooperation the two governments have agreed on when the principal agreement was signed in late 2012.
A high ranking staff member of the AFD is expected to attend the upcoming Annual General Meeting of the Seychelles Hospitality and Tourism Association to present the membership with a range of options they can choose from, should they wish to access funding either outside or alongside their regular financing channels.
Both Tourism and Culture Minister Alain St. Ange and Louis D’Offay, the chairman of the SHTA were instrumental in arranging for the visit and opportunity, a fact not lost on the tourism stakeholders at large, who can now reap direct benefits from the hand in glove cooperation between public and private sector.