Madagascar has secured more than $14 million in non-refundable funding from the African Development Bank (AfDB) to support several key development projects.
The funding, announced in a press release on Monday, will be used to modernize infrastructure and strengthen national resilience.
The funding is allocated to a number of priority areas: $1 million will be used to support the revision of legislation on public-private partnerships (PPPs) and to establish new financing mechanisms. Another $1 million is specifically dedicated to “encouraging women to become more involved in decision-making and leadership.” The majority of the funding, $12.72 million, will be used to “strengthen the country’s resilience to natural disasters.”
During a meeting with Malagasy Minister of Economy and Finance Rindra Hasimbelo Rabarinirinarison, Kennedy Mbekeani, AfDB Director General for Infrastructure, praised Madagascar’s progress in infrastructure development. He expressed the bank’s willingness to support the construction of a new highway between the capital city of Antananarivo and Toamasina, the country’s main commercial port, located approximately 370 kilometers to the east. This strategic project is designed to strengthen economic connections between the two key cities.
An AfDB technical mission is scheduled to visit Madagascar soon to initiate discussions on this major project. This support aligns with the African Development Bank’s overall strategy to promote sustainable development, economic resilience, and poverty reduction across the continent.
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