Seychelles - Inclusive Private Sector Development and Competitiveness Programme

The Seychelles Inclusive Private Sector Development and Competitiveness Programme (IPSDCP) is a USD 20 million Programme-Based Operation (PBO) supporting the reform agenda of the Government of Seychelles (GoS). Undertaken in an environment characterized by macroeconomic and political stability, moderate fiduciary risk, and strong government commitment to key reforms in the areas covered by the IPSDCP, the programme will be the Bank’s second general budget support operation in Seychelles. The IPSDCP is designed as a two year programme supporting the national budget of fiscal years 2013 and 2014. It is supporting the implementation of a multi-year reform programme in conformity with the Seychelles 2017 Strategy (the GoS’ main policy document guiding reforms since 2007), the Medium-Term Expenditure Framework (MTEF), as well as the draft Medium-Term National Development Strategy (MTNDS). Programme outputs include policy reforms addressing the key constraints to private sector development (PSD) and strengthening GoS public financial management (PFM) systems. The operation is fully complementary to a parallel Development Policy Loan (DPL) Programme from the World Bank and the GoS is considering establishing a common steering and monitoring and evaluation framework for both operations.