Madagascar – 12 February 2016

World Bank says to give $690 mln to Madagascar over next 3 years

The World Bank will boost aid to Madagascar to $230 million annually over the next three years, it said on Tuesday, to help the economy recover from years of stagnation since a 2009 coup.

Donors resumed lending to Madagascar after successful elections in 2013 ended the political crisis and President Henry Rajaonarimampianina took office in January 2014.

“We are aware of the shortcomings in governance and risk generated by the fragility of this country,” Mark Lundell, Madagascar’s World Bank country director, told a news conference. “But we are also aware of the efforts made by the government.”

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