Quick Facts

Where the impacts of the investment may be experienced.
  • Seychelles
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Investment Bank (EIB)
Status: Proposed
Bank Risk Rating: U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower or Client: Seychelles Port Authority (SPA)
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Transport
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 14.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 12 million
Converted using 2017-10-21 exchange rate.
Loan Amount (USD): $ 41.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 35 million
Converted using 2017-10-21 exchange rate.

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Primary Source

Original disclosure @ EIB website
Updated in EWS: 2018-01-08
Disclosure Date: 2017-10-02

Project Description
The project consists of the rehabilitation and expansion of the commercial port within Port Victoria. This facility is in a state of serious disrepair and has insufficient berthing and yard space to operate efficiently and to meet future needs. The works will include detailed design and construction of a new quay offset from the existing quay, demolition as necessary of the existing quay, extension of the port yard area and dredging. The expansion of the port is expected to have a substantial impact on Seychelles' economic competitiveness, employment creation, sustainable growth and local trade and industry. The project will also pave the way for future private sector involvement, by providing an adequate and efficient infrastructure.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces
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