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Sustainability and Competitiveness DPL 3

Abstract*

The objectives of the Third Sustainability and Competitiveness Development Policy Loan Project for Seychelles are to enhance competitiveness and improve fiscal sustainability. To achieve those objectives, this loan supports actions that will: (i) improve private sector business environment; (ii) improve transparency in key economic sectors; (iii) improve expenditure efficiency; (iv) improve targeting, automation and monitoring and evaluation in the...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The development objectives of the DPL programmatic series are to enhance competitiveness and improve fiscal sustainability. To achieve those objectives, this series supports actions that will: (i) improve private sector business environment; (ii) improve transparency in key economic sectors; (iii) improve expenditure efficiency; (iv) improve targeting, automation and monitoring and evaluation in the social protection system; and (v) ensure cost recovery and long-term financial sustainability of utilities. The main policy areas of the operation are business environment, fiscal transparency and accountability, social protection, public expenditure efficiency.

Key Details

Project Details

  • P146567

  • Closed

  • Alexis Sienaert , Rafael Munoz Moreno

  • N/A

  • Seychelles

  • September 26, 2014

  • (as of board presentation)

    September 26, 2014

  • December 31, 2014

  • US$ 7.00 million

  • Ministry of Finance, Trade and Investment

  • Eastern and Southern Africa

  • 2015

  • US$ 7.00 million

  • N/A

  • Not Applicable

  • December 31, 2015

  • BANK APPROVED

  • P125202

  • August 22, 2023

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 7.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 7.00
IDA Commitment N/A
IBRD + IDA Commitment 7.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 7.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of June 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Feb 15, 2022 IBRD-84370 Loan Disb 7,000,000.00
Aug 15, 2020 IBRD-84370 Int Charges 97,673.34
Feb 15, 2021 IBRD-84370 Int Charges 49,731.10
Feb 15, 2020 IBRD-84370 Int Charges 110,195.56
Aug 15, 2019 IBRD-84370 Int Charges 133,386.94
Aug 15, 2018 IBRD-84370 Int Charges 109,454.73
Feb 19, 2019 IBRD-84370 Int Charges 127,368.90
Aug 15, 2017 IBRD-84370 Int Charges 84,114.73
Feb 15, 2018 IBRD-84370 Int Charges 89,802.22
Feb 15, 2017 IBRD-84370 Int Charges 80,500.00
Feb 6, 2015 IBRD-84370 Loan Disb 6,982,500.00
Dec 31, 2014 IBRD-84370 Loan Disb 17,500.00
Dec 31, 2014 IBRD-84370 Fee Charges 17,500.00
Aug 15, 2015 IBRD-84370 Int Charges 2,439.82
Aug 15, 2015 IBRD-84370 Int Charges 50,328.06
Feb 15, 2016 IBRD-84370 Int Charges 56,171.10
Sep 26, 2014 IBRD-84370 Loan Commitment 7,000,000.00
Feb 15, 2024 IBRD-84370 Int Charges 100,800.00
Aug 15, 2016 IBRD-84370 Int Charges 67,592.78
Aug 15, 2024 IBRD-84370 Int Charges 100,800.00
Feb 15, 2023 IBRD-84370 Int Charges 100,800.00
Aug 15, 2023 IBRD-84370 Int Charges 100,800.00
Aug 15, 2022 IBRD-84370 Int Charges 100,800.00
Aug 15, 2021 IBRD-84370 Int Charges 44,345.00
Feb 15, 2022 IBRD-84370 Int Charges 43,291.10
Feb 15, 2022 IBRD-84370 Loan Disb -7,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

No data available.

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-08-2017
OutcomesModerately Satisfactory
Risk to Development OutcomeModest
Bank PerformanceSubstantial
Borrower PerformanceSubstantial
Government PerformanceNot Applicable
Implementing AgencyNot Applicable

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 06-07-2018PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeModestN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceSatisfactoryN/a
Government PerformanceSatisfactoryN/a
Implementing AgencySatisfactoryN/a
Icr QualitySubstantialN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Increase in the number of commercial cases resolved at the commercial court within 12 months as a share of all cases lodged.Value0.000.0085.00
    DateDecember 30, 2011December 31, 2015
    Comment
  • Increase in contribution revenues to the Seychelles Pension Fund.ValueBefore the reforms, Seychelles Pension Fund contri
    Date
    Comment
  • Reduction in operating losses incurred by the Public Utility Company before subvention by government.ValueSR 123,511 in December 2011Zero by December 2015
    DateDecember 30, 2011December 31, 2015
    Comment
  • Reduction in the difference between voted and executed budgetValue4.200.002.50
    DateDecember 30, 2011December 31, 2015
    Comment
  • Increase in the percentage of public enterprises that submit their audited financial statements to the Minister of Finance and to teh PEMC by March 31.Value33.000.0060.00
    DateMarch 31, 2011March 31, 2016
    Comment
  • Spending on reformed social assistance programs stablizes.ValueTotal spending on disability (invalidity), sicknes
    Date
    Comment
  • Reduction in number of days required to register a business.Value39.000.003.00
    DateDecember 15, 2011December 31, 2015
    Comment
  • Increase in the percentage of business filing their taxes online.Value1.000.005.00
    DateDecember 31, 2011December 31, 2015
    Comment
  • Increase in the number of approved housing loans using the new subsidy policyValue0.000.00195.00
    DateDecember 30, 2011December 31, 2015
    Comment
  • More public disclosure of key information in the petroleum and fisheries sectorsValueNo report in 2011
    Date
    Comment
  • Reduction in the share of ineligible beneficiaries of welfare assistance (the ineligible are those who are in the 3rd, 4th, and 5thquintiles) i.e. errors of inclusion.Value33.000.0020.00
    DateDecember 30, 2011December 31, 2015
    Comment