Seychelles to get $100m line of credit from India |26 June 2018
Seychelles will benefit from a US $100 million credit line from India. This follows discussions in a tête-à-tête between Indian Prime Minister Narenda Modi and the President of the Republic of Seychelles, Danny Faure, yesterday at the Hyderabad House.
The credit line facility will be used for infrastructure purposes in the Seychelles People’s Defence Forces (SPDF), a new government house, a new police headquarters and a new building for the Attorney General’s office. This is the second grant from India to Seychelles.
It was Prime Minister Modi who announced the donation of the grant during a press briefing after the two leaders and their delegation had held bilateral talks where six bilateral agreements -- a White Shipping Data, Cyber Security, a Small Development Project, a Cultural Exchange Programme for 2018-2019 and a twinning agreement between Victoria and Panjim -- were signed.
Prime Minister Modi said: “We should assure maritime security in our coastal areas and exclusive economic zone. India is committed to capacity building of the defence personnel in Seychelles. We will be able to protect our maritime resources through conventional and non-conventional means. I am announcing a $100 million line of credit to Seychelles for defence purposes.
“India and Seychelles are major strategic partners. We respect the core values of democracy and share the geo-strategic vision to maintain peace, security and stability in the Indian Ocean,” he added.
On behalf of the people of Seychelles, President Faure thanked Prime Minister Modi and the people of India for the grant and for the excellent welcome given to him and his delegation on his State visit.
“India is one of our closest and most reliable partners. A nation with which we share a lot, historically, culturally, and economically. I bring with me the greetings and good wishes of the people of Seychelles to the people of India,” said President Faure, noting that the relationship between the two countries is cemented for many years to come.
President Faure said Seychelles in 2020 will celebrate 250 years of documented history of settlers’ arrival in Seychelles and thus will mark 250 years of Indian presence since the arrival of five Indian Tamil Nadoo settlers to our shores and Indians are now a vital part of our Creole family.
President Faure added that the main thrust of this visit was to emphasise the strong bonds of friendship that exist between our two nations based on shared affinities, history links and brotherly connection which are very vibrant and promising.
President Faure said that the visit of Prime Minister Modi to Seychelles in March 2015 and his current visit to India reaffirms both countries’ engagements to take their relations to new heights.
“We want to make our relations even more result-oriented together to respond to the needs and expectations of our citizens,” President Faure continued, noting that they have expressed strong desires to elevate their bilateral relations to a more comprehensive partnership of a greater strategic importance and have reaffirmed their role in the joint commission and bilateral cooperation thus consolidating their expanding relations.
During the ceremony, President Faure was handed with a replica of the Dornier Aircraft by Prime Minister Modi, the same model that will be officially handed over to Seychelles today.
The Indian assistance for small development projects to local bodies, education and vocational institutions, the Cultural Exchange Programme for 2018-2022 and a twinning agreement between Victoria and Panjim was signed by the Minister for Habitat, Infrastructure and Land Transport, Pamela Charlette.
The Cyber Security agreement between the Indian Computer and Agency Respond team in the Ministry of Electronics and Information Technology and the Seychelles Department of Information and Technology and also the White Shipping Data agreement for the sharing of technical data by the Indian Navy and the National Coordination Centre in Seychelles was signed by the Minister for Fisheries and Agriculture, Charles Bastienne.
The sixth agreement between the Foreign Services Institute of the Ministry for External Affairs of India and the Ministry of Foreign Affairs of Seychelles was signed by secretary of state, Ambassador Barry Faure.
Following statements by both leaders, President Faure was hosted to a lunch by Prime Minister Modi.
In the afternoon President Faure also held talks with Indian Vice-President Muppavarapu VenkaSitharaman at the Oberoi Hotel.
He later addressed a business forum between the Indian trade and Seychelles business delegation late in the afternoon at the same hotel.
President Faure was hosted to a banquet at the RashtrapatiBhavan last night by the President of India, Ram NathKovind.
Today President Faure will receive the Donier aircraft at the Air Force Station in Palam.