African Development Bank Group (AfDB) / Press Release

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- The project supported by the African Development Fund through its Climate Action Window will help strengthen protection, conservation and sustainable use systems for natural capital and ecosystems in Madagascar
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Source: African Development Bank Group (AfDB) | Dec 20, 2024

Madagascar: African Development Fund approves a grant of over $9 million to strengthen protection and sustainable use systems for natural capital and ecosystems

The project will help secure the land in the protected areas concerned and support the local economy through income-generating activities

The Board of Directors of the African Development Fund (https://apo-opa.co/4iITWIP) – the African Development Bank Group’s (www.AfDB.org) concessional financing window – approved a donation of $9.42 million to Madagascar to implement climate resilience through the Preservation of Biodiversity in National Parks Project. The grant, agreed on 18 December 2024 in…

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- The road corridor project supported by the African Development Fund will contribute to the economic and social integration of southern Madagascar by opening up the region
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Source: African Development Bank Group (AfDB) | Dec 11, 2024

Madagascar: African Development Bank Group grants a $165 million loan to develop roads in Southern Madagascar and facilitate trade

A significant part of the project involves reconstructing the Manombo bridge and creating two new two-lane bridges spanning 460 meters to enhance road connectivity

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $165 million loan to Madagascar to develop critical trade corridors and improve regional connectivity. The funding, granted on 11 December 2024 in Abidjan, will support the third phase of a major infrastructure project to improve trade…

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- The budget support granted to Madagascar will help create a better regulatory framework to promote investment and improve the business environment in sectors that create jobs
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Source: African Development Bank Group (AfDB) | Sep 23, 2024

The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

The loan from the African Development Fund, the Bank Group’s concessional financing window, includes funding from the Transition Support Facility

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025. The loan from the African Development Fund, the Bank Group’s…

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- AfDB President Akinwumi Adesina (7th from left, front row), Madagascar’s President Andry Rajoelina, Africa50 CEO Alain Ebobissé, and other participants at the 2024 Annual General Shareholders Meeting in Antananarivo. Adesina's wife, Grace, stands to his right
- Madagascar's President Andry Rajoelina shows AfDB President Akinwumi Adesina a national craft at a Madagascar exhibition during the 2024 Annual Meetings in Antananarivo. Africa50 CEO Alain Ebobissé looks on
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Source: African Development Bank Group (AfDB) | Sep 23, 2024

Africa50 investment platform gets thumbs up for its innovative financing, strategic partnerships and performance

Africa50 has mobilized over $1.1 billion in capital commitments and catalyzed an additional $4.4 billion in external financing in just seven years of operation

Presidents of Madagascar and Tanzania praise Africa50's critical role in addressing the continent's infrastructure challenges; Africa50 has mobilized over $1.1 billion in capital commitments and catalyzed an additional $4.4 billion in external financing in just seven years, Adesina. Africa50 (www.Africa50.com), the investment platform established by African governments and the African Development…

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- Adam Amoumoun (top left), the Bank’s Country Manager in Madagascar, the Bank’s Country Economist for Madagascar, Hamaciré Dicko (top right) and the chief of staff of the Minister of the Economy and Finance, Florence Andrianaivohery (below) at the launch of the report on Madagascar’s economic outlook for 2024
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Source: African Development Bank Group (AfDB) | Aug 06, 2024

Economic outlook: the African Development Bank forecasts growth for Madagascar of 4.5 percent in 2024 and 5.3 percent in 2025

Growth on the Grande Île was 4.4 percent in 2023, compared with 4.3 percent in 2022

The African Development Bank Group’s (www.AfDB.org) Country Report 2024 forecasts vigorous economic activity for Madagascar, with expected growth of 4.5 percent in 2024, climbing to 5.3 percent in 2025. Growth on the Grande Île was 4.4 percent in 2023, compared with 4.3 percent in 2022. The report, entitled “Driving change…

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- About 50 participants attended the capacity-building workshop for Malagasy managers overseeing African Development Bank-funded projects
- Family photo of participants - From left to right, Abdoulaye Kane (2nd), head of the Disbursements Department in the Bank’s Financial Control team, and Adam Amoumoun (4th), the African Development Bank’s Country Manager in Madagascar
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Source: African Development Bank Group (AfDB) | Jul 02, 2024

African Development Bank Group Builds Project Implementation Capacity in Madagascar

The workshop focused on the Bank’s disbursement rules and procedures, with a view to improving expenditure performance for Bank-financed projects

To improve the management and monitoring of the projects it finances or co-finances in Madagascar, the African Development Bank (www.AfDB.org) conducted a two-day training for Malagasy government officials involved in the supervision of these tasks. The workshop, held on 11 and 12 June 2024, in Antananarivo, brought together Malagasy project…

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- Madagascar's President Andry Rajoelina has won the 2023 Babacar Ndiaye Super Prize
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Source: African Development Bank Group (AfDB) | May 04, 2023

Madagascar's President Andry Rajoelina named winner of 2023 Babacar Ndiaye Super Prize

The award was created in honor of Babacar Ndiaye, president of the African Development Bank Group, from 1985 to 1995

The Africa Road Builders Selection Committee has named Madagascar’s President Andry Rajoelina, the winner of the prestigious Babacar Ndiaye Trophy, for his commitment to infrastructure development in the island state. He succeeds Tanzanian President Samia Suluhu, who won the award in 2022 (https://apo-opa.info/3B0mAAl). According to a press release by the…

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- From left: Mamy Razakanaivo, Executive Secretary of the CPGU; World Food Program Madagascar Country Director Pasqualina Di Sirio; Madagascar Minister of Agriculture and Livestock Harifidy Ramilison; UK Ambassador to Madagascar David Ashley; AfDB Madagascar Country Manager Ada Amoumoun; UN Assistant Secretary General and ARC Group Director General Ibrahima Cheikh Diong; ARC Ltd Head of Government Services for East and Southern Africa Koffi Konin; Madagascar Minister of Economy and Finance Rindra Hasimbelo Rabarinirinarison; AfDB Programme Officer Fatoumata Camara; and General Secretary of the Malagasy Government Indriamanga Rakotoarisoa at the handover ceremony.
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Source: African Development Bank Group (AfDB) | May 02, 2023

Madagascar: African Risk Capacity Group-African Development Bank partnership issues $1.5 million insurance pay-out for Tropical Cyclone Freddy recovery efforts

The funds, comprising $1.2 million to the government of Madagascar and $300,000 to the World Food Programme, were paid under the ARC Replica initiative

Representatives of the African Risk Capacity (ARC) Group and the African Development Bank (www.AfDB.org) presented two cheques worth $1.5 million in insurance payouts to the Government of Madagascar and the World Food Programme (WFP) to support the country’s recovery from Tropical Cyclone (TC) Freddy. The funds, comprising $1.2 million to…

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- Young entrepreneurs who participated in a capacity building session received certificates
- A woman entrepreneur receives her certificate after participating in an entrepreneurial capacity building session
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Source: African Development Bank Group (AfDB) | Sep 27, 2022

Madagascar: Notice to Small and Medium-Sized Enterprises of second call for applications for the “Business Linkage Program"

By mid-October 2022, 150 small and medium-sized enterprises will be selected to participate

It has been three years since the African Development Bank (www.AfDB.org) launched a programme in Madagascar to support the growth of small and medium-sized enterprises in the country. Objectives: To enable them to achieve economies of scale and create better employment opportunities for women and young people in key sectors…

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- Madagascar: Yields increase for youth enterprises, thanks to an African Development Fund Project
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Source: African Development Bank Group (AfDB) | Sep 16, 2022

Madagascar: Yields increase for youth enterprises, thanks to an African Development Fund Project

The project has enabled the development of 13,086 hectares of land, including 2,064 hectares in the lowlands

Launched in 2016, the Young Rural Enterprises Project in the Central West of Madagascar has helped improve agricultural yields. Yields of rice and maize doubled, according to a project progress report released by the African Development Bank (www.AfDB.org) on 30 August 2022. The African Development Fund, the Bank Group's concessional…