Africa: New World Bank Group Support for Seychelles Advances Reforms to Strengthen Resilience, Transparency, and Job Creation

6 May 2026
World Bank (Washington, DC)
press release

The World Bank Group has approved $30 million in financing under the Second Seychelles Sustainable and Inclusive Growth Development Policy Operation (DPO) to help address structural constraints that limit private sector growth and job creation in the country.

The Second Sustainable and Inclusive Growth DPO supports the Government of Seychelles in translating policy commitments into concrete, system-wide reforms. The program focuses on strengthening financial sector supervision and cybercrime safeguards, expanding private sector participation in renewable energy, improving the efficiency and transparency of public spending, reinforcing climate action through improved waste management, and advancing a coordinated national response to support vulnerable youth.

"This program fully aligns with our national priorities. These reforms are about preparing Seychelles for the future, by protecting our environment, strengthening our economy, and supporting our people, especially our youth," said Pierre Laporte, Minister of Finance, Economic Planning, Trade and Investment. "World Bank Group's support helps us accelerate reforms that safeguards our hard-won development gains."

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This operation builds on reforms launched under the first Sustainable and Inclusive Growth DPO, which focused on establishing the legal and policy foundations needed to address longstanding structural vulnerabilities. These reforms included enactment of the Financial Stability Act, introduction of new electricity sector regulations enabling independent power producers, adoption of policies on extended producer responsibility for waste, reforms on hazardous chemicals management, and increases in benefit levels across six social protection programs.

The second DPO deepens and operationalizes this agenda, shifting from framework-setting to implementation, enforcement, and economy-wide impact. By the completion of this operation, Seychelles is expected to have a more resilient financial system, stronger public finance discipline, and enhanced institutional capacity to manage environmental and social risks.

"This operation reflects Seychelles' strong track record of reform and implementation", said Boubacar-Sid Barry, World Bank Country Manager for Seychelles. "The country has shown that strong institutions and consistent reforms matter, even in a small island economy exposed to global and climate shocks. These reforms help create and protect jobs, reduce environmental risks, strengthen confidence in the economy, and invest in young people, so growth today remains sustainable and inclusive tomorrow."

Contacts:

World Bank Media Relations: press@worldbank.org

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