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The Eastern and Southern Africa Trade Development Bank (TDB) is keen to boost the housing and health care sectors in Seychelles, other than the traditional segments it is involved. This was revealed by the president of the TDB, Admassu Tadesse
The Eastern and Southern Africa Trade Development Bank (TDB) is keen to boost the housing and health care sectors in Seychelles, other than the traditional segments it is involved in. This was revealed by the president of the TDB, Admassu Tadesse. Earlier on the day, he called on President Wavel Ramkalawan at State House and talked about what both the government and the bank could do to support the economy of Seychelles in the past.
TDB chief assured the president of the bank’s help in building the capital markets for equity and bonds. The bank is also looking into the housing and health sectors in addition to real estate. Importantly, the latest deal between Seychelles and the bank is helping Air Seychelles pay off its debt to Etihad.
Seychelles’ national carrier announced a rescue plan in January this year, in which Seychelles will pay off only US$27.8 million out of the US$76 million initial debt owed to bondholders. The national airline’s rescue plan was made in an agreement between the company’s administrators and creditors.
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The TDB was established in 1985 and is an investment-grade development finance institution. It serves 22 economies in its region and has the mandate to finance and foster trade, regional economic integration, and sustainable development. In Seychelles, the bank was involved in the acquisition of Cable & Wireless Seychelles from Liberty Latin America, by CWS Investment Ltd – a group of Seychellois entrepreneurs.
