EIB gives Madagascar 300 mln euro loan for roads, power
The European Investment Bank (EIB) has given Madagascar a 300 million euro ($333 million) loan to go be used to rehabilitate roads, power and energy infrastructure, the island state said.
The president’s office in Madagascar said in a statement late on Tuesday that the EIB loan would also help in emergency repair work resulting from cyclone damage.
President Hery Rajaonarimampianina took office in January 2014 after successful elections in 2013 ended a political crisis after a coup in 2009 that prompted international donors to cut ties. Following the vote, donors, including the International Monetary Fund and World Bank resumed lending to Madagascar.
UNESCO to investigate pirate treasure hunt in Madagascar
The United Nations is sending experts to Madagascar to assess a claim by underwater explorers that they had found treasure and the wreck of a ship belonging to the pirate known as Captain Kidd, a U.N. official said.
Ulrike Guerin, a specialist in underwater heritage for the U.N. cultural agency UNESCO, said Thursday that experts will examine artefacts at the site where American explorer Barry Clifford had been operating. The team is expected to arrive in Madagascar by the end of June, she said.