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Committee on Subsidies and Countervailing Measures - Subsidies - New and full notification pursuant to article XVI:1 of the GATT 1994 and article 25 of the Agreement on Subsidies and Countervailing Measures- Seychelles
日期:2021/10/27
作者:Seychelles
文件編號:G/SCM/N/372/SYC
附件下載:GSCMN372SYC.pdf
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SUBSIDIES

NEW AND FULL NOTIFICATION PURSUANT TO ARTICLE XVI:1
OF THE
GATT 1994 AND ARTICLE 25 OF THE AGREEMENT
ON SUBSIDIES AND COUNTERVAILING MEASURES

Seychelles

The following communication, dated 10 October 2021 and received on 25 October 2021, is being circulated at the request of the delegation of Seychelles.

 

_______________

 

 

In accordance with Article 25.1 of the Agreement on Subsidies and Countervailing Measures and Article XVl:1 of the GATT 1994, the Government of the Republic of Seychelles wishes to notify to the Committee on Subsidies and Countervailing Measures that the Republic of Seychelles has granted or maintained within the meaning of Article 1.1 of the ASCM the following subsidies, which are then expanded upon in the following Annexes:

         I.   The Private Sector (MSMEs) Relief Scheme

        II.   The Private Sector (Large Enterprises) Relief Scheme

      III.   The Small Business Support Fund

It is to be noted that these subsidies are not in contravention of Article XVl:1 of the GATT 1994.

I  THE PRIVATE SECTOR (MSMEs) RELIEF SCHEME

1      Title of program

The Private Sector (MSMEs) Relief Scheme.

2      Period covered by the notification

As at 30 June 2021.

3      Policy objective and/or purpose

The Private Sector (MSMEs) Relief Scheme is a credit facility set up by the Central Bank of Seychelles (CBS) to enable businesses to cope with the financial impacts of the COVID-19 pandemic, including amendments to relevant legislative frameworks, adjustment in the Monetary Policy Rate, setting up of a credit facility to assist affected individuals and businesses with their cash flow, moratorium and rescheduling of loan facilities, introducing a new policy allowing CBS to buy-back and re-sell government securities, and the strategy on the use of our foreign exchange reserves.