China writes off $5.5 million loan to Seychelles |17 August 2018

With a view to supporting Seychelles’ economy and reducing its debt burden, the Chinese government has written off the country’s loan worth 37,816,400 renminbi (US $5.5 million).

To formalise the agreement, the government of the Republic of China signed a protocol on partial debt relief with the government of Seychelles.

The loans from the Chinese government were for the provision of economic and technical cooperation.

The signing was done by the Chinese ambassador to Seychelles, Yu Jinsong, representing the Republic of China and Finance, Trade, Investment and Economic Planning Minister Maurice Loustau-Lalanne, at Liberty House on Monday.