Madagascar obtains a loan of USD 178 million from the ADB

The African Development Bank (AfDB) will provide a loan of US $ 178.75 million to the government of Madagascar for the implementation of the Corridor Development and Trade Facilitation Project.

In a press release published on Wednesday, November 24, the AfDB’s country manager in Madagascar, Adam Amoumoun, indicates that the project will contribute to opening up the south of the country and will participate in strengthening the resilience of the populations, in the face of recurrent food insecurity in the region. that part of the country.

The project is the second phase of the corridor development and trade facilitation project. In particular, it should make it possible to improve the conditions of accessibility in southern Madagascar, promote trade and investment through the facilitation of export, import and investment procedures, and finally ensure the ‘inter-modality between road and inland waterways.

“The project will consist in particular of carrying out the development and asphalting works of two sections of essential roads connected to the port of Tulear: this is the RNT 12A over 121 km with 11 bridges in the south-east and the RN 9 with a length of 185 km in the southwest so about 306 km. The Bank will fully cover RNT 12A and other partners have expressed their willingness to intervene in the financing of the entire project. The establishment of a national quality control laboratory and cold rooms for perishable goods at border level are also scheduled, ”notes the ADB press release.

As of November 15, 2021, the AfDB’s active portfolio in Madagascar included 19 operations, for a total amount of $ 573.84 million, notably in three major sectors: energy (32.4%), agriculture ( 17.6%), multi-sector (8.1%), industrialization (7.9%) and the environment (0.2%).

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