President of the Republic, Dr Patrick Herminie received the World Bank Group Executive Director for Seychelles, Mr Zarau Wendeline Kibwe, at State House in a courtesy call that centred on strengthening the two countries' partnership and advancing a shared agenda on resilience finance, sustainable tourism, and economic diversification.
The meeting, attended by Minister of Finance Pierre Laporte and Mr Bertrand Belle, the World Bank's Lead Advisor for Small States, offered an opportunity to introduce the Executive Director to Seychelles' leadership, take stock of the existing portfolio, and chart the course of a deepened bilateral relationship.
Mr Kibwe, appointed on 1 November 2024 for a three-year term, congratulated President Herminie on his election victory and the country's peaceful democratic transition, and expressed appreciation for the trust placed in him to represent Seychelles at the World Bank Board. He also acknowledged Mr Bertrand Belle, describing him as a valuable asset and a pleasure to work with.
President Herminie reaffirmed Seychelles' standing as a dependable reform partner, whilst underscoring that the nation's income per capita does not tell the full story of the structural vulnerabilities and high unit costs that small island economies face. He called for vulnerability to be more meaningfully reflected in eligibility criteria, financing terms, and access to resilience instruments, a position Seychelles has long championed within international financial institutions.
The President also highlighted the broader value of the World Bank relationship, not only as a source of financing, but for the institution's convening power, technical expertise, and its ability to mobilise private investment through the wider World Bank Group, including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
A significant portion of the dialogue was devoted to the economic consequences of the ongoing Middle East conflict, which both sides acknowledged at meetings across the visit, including discussions at the Central Bank and with stakeholders in fishing and the blue economy. President Herminie noted that whilst the crisis has posed real challenges, it has also delivered important lessons in adaptation and resilience and has opened new doors for investment in sectors beyond tourism, including non-banking financial services and real estate.
The forthcoming disbursement of a US$30 million World Bank budget support operation, negotiations for which concluded on 17 February 2026, was acknowledged as timely in this context, providing critical fiscal headroom as Seychelles navigates the global uncertainty generated by the regional conflict. Since 2020, Seychelles has received five Development Policy Operations from the World Bank totalling US$115 million, and the current portfolio stands at approximately US$80 million across projects and budget support.
Mr Kibwe presented the Bank’s plan to position Seychelles as a regional centre of excellence in sustainable tourism, a model from which other countries can learn and a platform through which the World Bank could elevate tourism standards across Africa. Given Seychelles' internationally recognised expertise in sustainable destination management, carrying capacity, greener operations, and resilience planning, President Herminie proposed that the World Bank support structured South–South learning, including peer exchanges, policy clinics, and practical toolkits through which Seychelles shares its experience with other destinations.
Mr Kibwe also highlighted the potential for farmers to supply visitors with authentic Seychellois produce, deepening the linkages between the tourism economy and local food systems whilst reducing import dependency.
Beyond tourism, the two sides discussed Seychelles' ambitions across four additional priority sectors: agriculture and fisheries, infrastructure and connectivity, environment and the circular economy, and public finance reform and domestic resource mobilisation.
President Herminie closed the meeting by framing Seychelles' vision for the relationship as a genuine two-way partnership. Whilst Seychelles will continue to be a responsible and reform-oriented client country, it is equally ready to contribute practical solutions and hard-won experience to other small states.
The President thanked the World Bank for its sustained support over the years and expressed confidence that the deepening partnership, strengthened by Mr Kibwe's representation and Mr Belle's specialist expertise on small states, will continue to deliver meaningful impact for the people of Seychelles.