The first draft of the multidimensional vulnerability index (MVI), with an objective to increase eligibility for small island developing states (SIDS) like Seychelles to receive greater financing, is expected to be ready by the end of the year. This was stated by the newly accredited United Nations resident coordinator for Seychelles, Lisa Singh.
The first draft of the multidimensional vulnerability index (MVI), with an objective to increase eligibility for small island developing states (SIDS) like Seychelles to receive greater financing, is expected to be ready by the end of the year. This was stated by the newly accredited United Nations resident coordinator for Seychelles, Lisa Singh.
Recognised as a high-income country when looking at its GDP, Seychelles, like other SIDS with similar status, loses out on critical development financing and such an index is expected to address this issue. Following the presentation of her credentials to President Wavel Ramkalwan on Tuesday at State House, the new UN resident coordinator, Lisa Singh said that the MVI is intended to highlight and address the special vulnerabilities that are inherent in the SIDS context. The UN realised that making economic progress and having prosperity should not result in penalising the same countries. The draft is expected to be ready by the end of the year and after that, in terms of process, the countries need to commit and accept the MVI as a special index that has to be combined and coupled with the GDP in determining concessional financing.
The resident coordinator, also shared that discussions are on with the President regarding collaboration and support for a new five-year cooperation framework that Seychelles and the UN are currently working on. MVI needs to be edgier and focus on ensuring that the key priorities of the country are addressed by the UN. In March, many of the UN regional directors are expected to be in Seychelles to take the discussions forward with the government on the cooperation framework.
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She added that there is a good base in Seychelles in the sense that its economic trajectory has transformed it into one of the leading countries in the continent and the challenge now is how to take into account the global risk. The UN intends to support Seychelles in addressing issues in a more inter-sectoral manner and particularly the issue of consultation, Singh said. To have a better understanding of the socio-economic environment of the country, Singh plans to meet with women’s groups, civil society, and the head of the Chamber of Commerce, among others.
