📋 Tender Overview
IATI identifier 46002-P-SC-K00-028
Country Seychelles
Sector Multi-Sector
High 5 Improve Life of People in Africa
Sovereign / Non-Sovereign Sovereign
Environmental Category [3] Low Risk
Climate Safeguards Categorization [3] Projects are not vulnerable to climate risk.
Gender Marker System Categorization [GEN II] Gender Outcomes
Commitment (UA) 18,331,537
Project General Description
The Economic Resilience and Green Recovery Support Programme II (ERGRSP-II) is the second in a 3-year programmatic series, for the years 2024, 2025, and 2026. The ERGRSP-II operation aims to consolidate and deepen the reforms initiated under the ERGRSP-I operation while ensuring effective sequencing of reforms. It continues to support reforms that align with Seychelles’ Vision 2033, the National Development Strategy (NDS) 2024-2028, and the Medium-Term Fiscal Framework (MTFF, 2024-2026). ERGRSP-II maintains the same three mutually reinforcing and complementary components of ERGRSP-I: (i) Component 1: Advancing governance and economic management reforms; (ii) Component 2: Improving business competitiveness and economic diversification; and (iii) Component 3: Enhancing environmental and climate resilience and economic inclusivity. This second phase of the three-year programmatic series will cost US$ 25 million.
Project Objectives
The goal of ERGRSP-II remains to strengthen the Republic of Seychelles' governance reforms for a resilient, inclusive, and green economic recovery. Consistent with this goal, ERGRSP-II aims to create more and better opportunities for all Seychellois by: (i) improving tax revenue performance; (ii) strengthening the efficiency of public spending and public service delivery; (iii) enhancing the resilience of the financial sector; (iv) deepening economic diversification; and (v) promoting environmental and climate resilience while ensuring the inclusivity of economic growth. The ERGRSP-II operation is expected to contribute to Seychelles' medium-term objectives of creating jobs while conserving fiscal space and promoting debt sustainability. This will enable the Government to allocate its limited resources to priority projects and programmes that protect the vulnerable population.
Beneficiaries
The entire population of Seychelles continues to benefit from this operation. The increased fiscal space generated will allow for greater spending on social programmes aimed at achieving the Sustainable Development Goals (SDGs) and Agenda 2063. Specific groups of beneficiaries will include: (i) users of publicly provided social services (through more efficient budgeting and service delivery strategies); (ii) taxpayers (through a more judicious and efficient use of fiscal resources and tax processes); (iii) domestic and foreign investors (through the maintenance of overall macroeconomic stability, an improved investment climate, and easier foreign trade); (iv) the Seychelles workforce (through greater employment opportunities in higher value-
