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AfricaMoney | August 23, 2017

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‘Mauritius among most favorable economies in Sub-Saharan Africa’

‘Mauritius among most favorable economies in Sub-Saharan Africa’

Agapito Mendes Dias, the Executive Director representing Mauritius on the Board of the World Bank, noted that the global financial crisis can be tackled by Mauritius as the nation is on the right track for growth. (Image: World Bank)

The Mauritian economy is among the most favorable in Sub-Saharan Africa, stated Agapito Mendes Dias, the Executive Director representing Mauritius on the Board of the World Bank.

Dias, who is on a one-week official visit to examine the island economy for upcoming challenges, noted that the global financial crisis can be tackled by Mauritius as the nation is on the right track for growth.

During a press conference held in Port-Louis yesterday, Dias, who hails from the small island state of Sao Tome and Principe, said that Mauritius can face global challenges and competition if the island continues to perform well as far as its economy is concerned.

Agapito Mendes Dias represents 22 Franco-African countries namely Benin, Burkina Faso, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Cote d’Ivoire, Democratic Republic of the Congo, Djibouti, Equatorial Guinea, Gabon, Guinea, Guinea Bissau, Madagascar, Mali, Mauritania, Niger, Republic of Congo, Sao Tome and Principe, Senegal and Togo.

The press conference in Mauritius was organized to help the latter understand the island economy in more depth so as to allow the World Bank to provide additional support to help the country keep up its economic performance.

This Tuesday, the executive director held a meeting with Finance Minister Xavier-Luc Duval, where they discussed ways to strengthen relations between the World Bank and Mauritius.

Additional points discussed centered on how to get a better understanding of the nature and type of support Mauritius needs from the World Bank and how Mauritius can help or be used as a model for other African countries.

Several site visits have been organized to show case what Mauritius can do and explore how the Mauritian experience can be simulated in other countries particularly in the Sao Tome and Principe islands.

Duval and Dias expressed their willingness to collaborate over various sectors such as the hydrocarbon and deep sea mineral mining sector, social protection, inclusive growth, labour and inequality assessment.

The setting up of various Mauritian Government project were dependent on the financial and technical support provided by the World Bank.

The World Bank helped in the Mauritius Infrastructure Project in 2009 by giving a loan of $50 million. It also gave $1.7 million to support SIDS DOCK programme for preparation of the Grid Code feed-in-tariff and model energy supply purchase agreement for renewable energy systems greater than 50 KW.

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