Narendra Modi had on Monday announced a special development assistance package worth “USD 175 million” for Seychelles after talks with President Patrick Herminie and underlined India's commitment to continue to support the island nation and strengthen its strategic relationship with the island nation in the Indian Ocean.
The package, unveiled in a joint media statement, is also a major boost to India-Seychelles relations and covers critical areas including infrastructure, maritime security, healthcare, education, digital transformation and sustainable development.
The assistance is USD 125 million in a rupee-denominated Line of Credit and USD 50 million in grant assistance to support projects that align with Seychelles' development priorities.
"All our efforts have been based on Seychelles' priorities and needs. Moving forward in this direction, today we are going to announce a special economic package of USD 175 million," Prime Minister Modi said.
Development, Digital Growth and Maritime Security in Focus
The new package will fund projects in a variety of sectors including “public housing, mobility, vocational training, healthcare, defence and maritime security”.
India and Seychelles also adopted a new ‘vision document’ to deepen cooperation in sustainability, economic growth, trade and regional security.
Throughout the visit, both countries signed seven Memoranda of Understanding (MoUs) in health, meteorology, electronics and information technology, good governance, digital transformation and civil services training.
One of the key agreements is the cooperation between the IMD and the Seychelles Meteorological Authority, while another is the support of Seychelles to improve digital governance by tapping the globally known digital public infrastructure (DPI) model in India.
Prime Minister Modi also stressed India's continued support for healthcare and the provision of affordable medicines, medical tourism as well as capacity-building efforts, including training programmes for Seychelles' civil servants.
Vision MAHASAGAR to Drive Strategic Partnership
Modi said Seychelles was an island nation with a special place in Vision MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions), which is a key element of our larger maritime strategy for security and growth in India's maritime strategy for the Indian Ocean Region and that Seychelles is one of India's closest maritime partners, Prime Minister Modi said.
Modi said: “India and Seychelles are connected not only by geography but also by history, trust and a shared vision for the future."
Seychelles is a strategically vital place on the major sea routes connecting Asia, Africa and European countries and so is a critical partner in addressing the region’s problems like piracy, illegal fishing and maritime security.
President Patrick Herminie welcomed the new development package, calling it another step in the long history of friendship between the two nations. India and Seychelles have a common vision for building cooperation over the next five years, he said, as well as peace, security and sustainable development in the Indian Ocean Region.
The Seychelles President also invited Prime Minister Modi to attend the country’s 50th Independence Day celebrations as the Guest of Honour, underlining the warm and growing depth of bilateral links.
With the announced USD 175 million package and a number of strategic agreements signed, India and Seychelles have made another major step towards expanding their partnership and reaffirming New Delhi as a trusted development and security partner in the Indian Ocean.
