This support was sealed with the signing of a memorandum of understanding yesterday at State House, after the United Arab Emirates’ health minister Hanif Hassan Al Qassim and acting director general of the Abu Dhabi Fund for Development Mohammed Al Suwaidi called on President James Michel.

Mr Suwaidi  and Vice-President Danny Faure signed the document in the presence of both Mr Michel and Dr Qassim.

Foreign Affairs Minister Jean-Paul Adam and principal secretary for Finance Ahmed Afif were also there.

Mr Suwaidi said his government has decided to finance the housing project as this is top priority for the Seychelles government.

He added that the wind power generation plant will be of great help to a small island state like Seychelles especially with arising environmental issues.

Mr Faure said the grant amounts to R462 million and this has been made possible as a result of the friendship that exists between the two countries and its leaders –  Sheikh Khalifa bin Zayed Al Nahyan and President Michel.

“The grant is being given to the Abu Dhabi Fund which will manage this money in partnership with the Ministry of Finance,” he said.

He said US $9 million will go towards the housing project on Ile Perseverance and US $28 million to the wind power generation plant.

The grant will help the government to intensify its housing programme for the benefit of Seychellois, he added.

He said the wind power plant is also vital as Seychelles is reviewing its source of energy with the soaring of fuel prices on the international market.

He added that the government has had a long standing relationship with the Abu Dhabi Fund. In 1995 we got help from them to build health facilities on Praslin and in 1998 for the reclaimed land project.
 
In the year 2000 it also gave Seychelles US $5 million for balance of payment
Mr Faure also seized the opportunity to discuss the restructuring of Seychelles’ debts with this country when he met Mr Suwaidi at his office after the signing.

He said he expects positive results very soon.