Seychelles. In April, the African Development Bank (AfDB) announced that Seychelles had been granted a US $ 26 million loan. According to COUNTRYAAH, Victoria is the capital of Seychelles which is located in Eastern Africa. The money would help the country build a water supply system on the island of Mahé, which is the largest in the archipelago and where about 90% of the population lives. The same month, Seychelles formally joined the World Trade Organization (WTO).
In June, the Seychelles and 26 other African states agreed on a new free trade agreement, the Tripartite Free Trade Area (TFTA). The agreement, which was signed in Egypt, covers countries from Egypt in the north to South Africa in the south. For the agreement to enter into force, it must, among other things, be ratified by the national parliaments.
Elections to the presidential post were held in December. In the first round, incumbent President James Michel, representing Party Lepep, received 48% of the vote while challenger Wavel Ramkalawan of the Seychelles National Party (SNP) received 34%. A second round of elections was held later in the month. This turned out to be very smooth but in the end Michel could be declared a winner after receiving 50.2 percent of the vote against 49.8 percent for Ramkalawan. The turnout was just over 90 percent.