The Ambassador of the European Union to the Republic of Seychelles, Ms. Marjaana Sall said:
- "The Port Victoria Rehabilitation and Extension project is a strategic project which is funded by the European Union, the European Investment Bank and the Agence Française de Développement. This joint European financing will support Seychelles in the modernisation of Port Victoria which will boost economic activities and trade, create jobs and promote access of local consumers to cheaper goods.”
The Port Victoria Rehabilitation and Extension project is a strategic project for Seychelles. The project, which is expected to be completed in 2021, consists of the construction of a new 600 metres long quay, extension of the port yard area and dredging works to allow larger vessels into the harbour and increase the overall port capacity and efficiency. The interventions will also contribute to an increase in the port’s safety and environmental performance in the handling of goods, and overall improvement of the efficiency of port operations.
The EU is supporting the Port Victoria Rehabilitation and Extension project through an innovative financing mechanism (blending) comprising a grant of 82 million Seychelles Rupees from the EU and loans totalling 475 million Seychelles Rupees from the European Investment Bank and the Agence Française de Développement.