The first draft of the multidimensional vulnerability index (MVI), devised to increase eligibility for small island developing states (SIDS) like Seychelles to receive greater financing, is expected to be ready by the end of the year.

The statement was made by the newly accredited United Nations resident coordinator for Seychelles, Lisa Singh.

Recognised as a high-income country when looking at its GDP, Seychelles, like other SIDS with similar status, loses out on critical development financing and such an index is expected to address this issue.

Following the presentation of her credentials to President Wavel Ramkalwan on Tuesday at State House, the new UN resident coordinator said that the MVI is intended to highlight and address the special vulnerabilities that are inherent in the SIDS context.

"We realised that making economic progress and having prosperity should not result in penalising the same countries. We expect to see the draft ready by the end of the year and after that, in terms of process, the countries need to commit and accept the MVI as a special index that has to be combined and coupled with the GDP in determining concessional financing," said Singh. 

She added that "I cannot tell you exactly when it will be approved, but we can only assure you that the UN is very focused on this and that's why we're leading it, in consultation with the SIDS country."

The resident coordinator, who is based in Mauritius' capital Port Louis, also shared that discussions with the President revolved around the collaboration and support that can exist going forward considering that Seychelles and the UN are currently working on a new five-year cooperation framework. 

Singh said, "It needs to be edgier and focus on ensuring that the key priorities of the country are addressed by the UN. In March, we will have many of the regional directors here to discuss with the government on the next cooperation framework and that will also be an opportunity to ensure the UN team is much more systemic."

The new people are at the heart of the national agenda so without healthy, educated, and economically stable people, countries are not resilient and stable, said Singh.

She added that there is a good base in Seychelles in the sense that its economic trajectory has transformed it into one of the leading countries in the continent and the challenge now is how to take into account the global risk.

"We intend to support Seychelles on addressing issues in a more inter-sectoral manner and particularly the issue of consultation," Singh said.

To have a better understanding of the socio-economic environment of the country, Singh plans to meet with women's groups, civil society, and the head of the Chamber of Commerce, among others, during her stay in Seychelles.   

She said that this will "ensure that what we have is a robust cooperation framework that resonates for this country, that resonates for this people."