‘PTA Bank confident in Seychelles’-. Lends Eden Island US $15m


21-March-2013

Vice-President Faure welcoming Mr Tadesse at State House yesterday

He was speaking after holding talks with Vice-President Danny Faure at State House where the bank head announced his organisation has loaned Eden Island US $15 million for the third phase of its housing project.

“The money is to further infrastructure development and allow new developments to come through including more affordable housing in the future,” he said.
He said the bank has also discussed with other stakeholders what other projects the bank can support, being a long-term and short-term lender.

“We have been looking at projects in the retail, transport, the sea and airport sectors as well as container terminals.”

Mr Tadesse said the bank is also looking at the food and beverage sector and is now considering agriculture after he met top officials from that sector to see how it can be revived being “an important strategic area”.

He said the PTA Bank is happy with the projects it has so far identified and supported because they have succeeded, “making both Seychelles and the bank look good”.

Mr Faure and Mr Tadesse discussed the strength of the relationship between Seychelles and the bank, noting that the Vice-President has been involved in its transformation as it changed its constitution.

“We also discussed the repositioning of Seychelles as a gateway into Africa and the growth of the services sector – how the bank can help Seychelles leverage itself to better avail itself as one of many gateways or platforms from which to do business in Africa in a pleasant and secure manner,” he said, adding they looked at ways in which Seychelles is looking to integrate further in Africa for example in maritime and transport point of view.

“We believe in Seychelles for many reasons, first of all its performance. Projects have done very well here. There has been very strong commitment from the leadership of the country at various levels and the country has managed to turn itself around economically, which has inspired confidence.

“We think Seychelles is disciplined and we intend to strengthen our partnership with it as it clearly has a bright future.

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