Seychelles - Micro, Small and Medium Enterprises (MSME) development project

The Seychelles micro, small and medium enterprises development (MSME) Development Project is supported by a US $1-million grant from the Fund for Private Sector Assistance (FAPA) of the African Development Bank. The project is complementary to the Seychelles Inclusive Private Sector Development and Competitiveness Programme (IPSDCP), a general budget support operation, approved by the Bank Board of Directors on December 3, 2013. It will support the Seychellois Government in their efforts to promote entrepreneurship and the role of small businesses in the development of the country. Under the project, a Seychelles MSME development strategy is being formulated and capacity building is being conducted for two government agencies in charge of MSME promotion, namely the Small Business Finance Agency (SBFA), an independent credit facility that provides micro-loans; and the Small Enterprise Promotion Agency (SEnPA), which provides training and capacity building of MSMEs.