Key Takeaways
- • Seychelles aims to transfer about $2 billion into a new sovereign wealth fund within five years, according to Finance Minister Pierre Laporte.
- • The fund's returns are intended to finance infrastructure, health, education, housing, roads and human capital.
- • Laporte said the government wants to keep scarce resources for social infrastructure, while the private sector can contribute, particularly in tourism and energy where private investment already exists.
- • Laporte made the remarks in an interview on the sidelines of an African Union event in Accra, Ghana, on Monday.
Summary
Seychelles plans to transfer about $2 billion into a new sovereign wealth fund within five years, and to use the income it generates to finance infrastructure and other public projects, Finance Minister Pierre Laporte said, according to Bloomberg. Laporte made the comments in an interview on the sidelines of an African Union event in Accra, Ghana, on Monday.
Laporte said the government's priorities are health, education and infrastructure, including housing, roads and human capital. He said private investment has already flowed into areas such as tourism and energy, and that the government wants to keep "scarce resources for social infrastructure, although the private sector can contribute."
Publisher and secondary coverage describes the fund as a $2 billion vehicle over five years to finance essential road networks and upgrade healthcare. One report notes the fund is expected to be managed independently to prevent political interference. Details on the fund's governance structure, investment mandate, and manager selection were not disclosed in the primary source.
Laporte said the government's priorities are health, education and infrastructure, including housing, roads and human capital. He said private investment has already flowed into areas such as tourism and energy, and that the government wants to keep "scarce resources for social infrastructure, although the private sector can contribute."
Publisher and secondary coverage describes the fund as a $2 billion vehicle over five years to finance essential road networks and upgrade healthcare. One report notes the fund is expected to be managed independently to prevent political interference. Details on the fund's governance structure, investment mandate, and manager selection were not disclosed in the primary source.
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