31 August 2017

Seychelles: 33rd Annual Meeting of the Board of Governors of the Trade and Development Bank

press release

President Danny Faure was the guest of honour at the official opening session of the 33rd Annual Meeting of the Board of Governors of the Trade and Development Bank held this morning at the Savoy Resort in Seychelles.

Some of the distinguished guests present at the official opening ceremony included the Former President of the Republic of Zambia, H.E. Rupiah Bwezani Banda, the Former President of the African Development Bank Dr Donald Kaberuka, the Speaker of the Seychelles National Assembly, Honourable Patrick Pillay, the Seychelles Designated Minister, Mrs Macuzy Mondon, the Minister of Finance and Economic Planning for Rwanda Honourable Claver Gatete, Seychelles' Minister for Finance, Trade, and Economic Planning Dr Peter Larose, the President and CEO of TDB Mr Admassu Tadesse, the Secretary General of COMESA Mr Sindiso Nwenya, and other distinguished guests and officials of TDB.

During his address, President Faure expressed his appreciation and honour that Seychelles has hosted the Annual Meeting of TDB this year and highlighted how Seychelles' longstanding and growing association with TDB is rapidly rising up towards the vision of its founders.

Addressing the delegates, President commended the achievements of the bank for its involvement in key projects and developments that help improve the lives of the people of member states' countries.

"In Seychelles, the two projects that have benefited from TDB financing - Eden Island and Ephelia Resort - have ended up creating numerous jobs both directly and indirectly, and contribute significantly to tax receipts to help the Government implement our programs. We are not alone as beneficiaries. Other Member States have also been able to use TDB financing for their development through trade, infrastructure, agribusiness and industrial development projects.

Like many in the region, Seychelles believes in the promise of regional integration. Together we need to create a more competitive and attractive economic landscape for investment and job creation. Regional financial institutions are important in this context, as they can pool limited human and financial resources, create strong capabilities and build the confidence of other international investors and financiers. They reinforce the values of unity and people-centred development, essential for our continent's economic and political revival," said President Faure.

The 33rd Annual international meeting of TDB gathers government and private sector leaders, investors, Ministers of Finance, and other development finance partners to discuss investment opportunities on the continent and challenges in managing investments and achieving development impact.

The 33rd Annual Meeting of the TDB provided the delegates with an opportunity to reflect on the bank's achievements and look at sustainable ways of tackling future challenges in the diverse industries and sectors of the region.

This marks the second time that this event is hosted in Seychelles, last held here in 2010.

Please read the President's FULL Address via the link below:

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