The loan of 67.3 million US dollars from the African Development Fund, the concessional window of the African Development Bank Group (AfDB), granted to Madagascar, includes funding from the Transition Support Facility.

Adam Amoumoun, head of the African Development Bank country office in Madagascar, explains that the program supports the Malagasy authorities in implementing the priority reforms of the State’s General Policy (PGE) 2024-2028 and Madagascar’s New Energy Policy (NPE) 2015-2030. It will help address the investment gap by expanding the fiscal space to free up additional resources for economic recovery, while improving governance in the energy sector, he states.

This program will primarily benefit the Malagasy population by creating a better regulatory framework to promote investments and develop projects through public-private partnerships (PPP), as well as better sectoral governance, particularly in energy. This will improve the business climate and attract investments in job-creating sectors, it is indicated.

Source: Orange Actus