Project Notice
|
| PNR |
42416 |
| Project Name |
Seychelles - COVID-19 Crisis Response Budget Support Program |
| Project Detail |
Project General Description
The loan to the Republic of Seychelles for USD 10 million is to finance the COVID-19 emergency response support program. This is a Crisis Response Budget Support (CRBS) that will be applied for 12 months from June 2020 to July 2021. The Seychelles Crisis Response Budget Support operation was appraised from 20 –27 April 2020 following a request from the Republic of Seychelles dated 8 April 2020. The design of the program considered good practice principles on conditionality. The operation is to support Government actions that will lay the foundation for macroeconomic stability and protect the socioeconomic progress that the country has so far achieved. The policy objective of the operation is to; (i) strengthen the health response to COVID-19 pandemic; (ii) protect livelihoods and enhance social protection measures against COVID-19, and; (iii) minimize risk to macroeconomic stability and create resilience for economic activities.
Project Objectives
The goal of the proposed operation is to support Seychelles’ National COVID-19 response policies and plans to contain and mitigate the social and economic impacts of COVID-19 pandemic. The program consists of three broad components namely: (i) strengthening the health response for COVID-19; (ii) expanding social protection and protecting livelihoods against COVID-19 impact; and (iii) protecting economic activities and safeguarding jobs against COVID-19 shocks. The three components described below are interlinked in pursuit of addressing the immediate public health challenge of saving lives, expanding social protection mechanisms as well as cushioning businesses and the economy from downward spiral. |
| Funded By |
African Development Bank (AfDB) |
| Sector |
Forestry |
| Country |
Seychelles , Eastern Africa |
| Project Value |
SCR 7,269,027
|
