Seychelles receives new grant of 120M rupees From China

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China and Seychelles have signed a deal that will eventually help bring jobs and economic development to the African nation.

The Agreement on Economic and Technical Cooperation between Seychelles and China provides for a new grant of 120 million Seychelles Rupees (50 million Chinese Yuan) to Seychelles to implement projects to be mutually agreed by the two governments.

This agreement was signed by Ambassador Vivianne Fock-Tave, Seychelles’ resident Ambassador in Beijing, and Mr Zhou Liujun, Vice-Director of the Agency of International Development and Cooperation.

This morning’s agreement comes two weeks after the Chinese wrote off a $5.5 million loan to Seychelles.

Both plans are part of China’s larger effort to help reduce Seychelles’ debt load.

Seychelles — a group of 115 islands in the western Indian Ocean — and China established diplomatic corporations in June 1976.

Over the years, China provided the Seychelles with millions of dollars in infrastructure development.

The two nations also carry out frequent exchanges and visits in the fields of culture, education and medical work.