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2011-2015 - Seychelles - Country Strategy Paper
The Bank Group‟s Strategy for Seychelles, covering the period 2009-2010, was articulated in an Interim Strategy Note approved by the Board in April 2009. The strategy was designed to guide the Bank Group‟s re-engagement with Seychelles after a long period of absence1 and to support the Government‟s comprehensive reform program launched in October 2008. During this period the Bank Group adopted a cautious approach with its lending program limited to the provision of much-needed budget support and assistance for debt restructuring. In addition, several grants were offered to provide technical assistance to help underpin, over the medium and longer term, more substantial engagement. All this has led to a remarkable turnaround of the country‟s macroeconomic performance, so much so that the Bank is now ready for more substantial lending interventions, which will be guided by a Country Strategy Paper. The CSP for 2011-2015 seeks to guide the Bank Group‟s response to Seychelles‟ emerging development priorities, as the authorities embark on what is commonly termed the second generation of reforms.