Agreement between France and Madagascar on financing

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On Monday, 20 September, France and Madagascar signed two financing agreements for a challenge within the hydropower sector on the one hand and the improvement of city transport on the opposite. On his approach to New York, the place he’ll attend the session of the UN General Assembly, Madagascar President Andry Rajoelina participated within the signing of the 2 agreements in Paris.

The Memorandum of Understanding was signed, on the French aspect, by Franck Riester, Ministerial Delegate to the Foreign Minister, and on the Malagasy aspect by Rindra Rabarinirinarison, Minister of Economic Affairs and Finance. But the fee of 150 million euros in funding is just not in the intervening time, the Madagascar minister particulars. “After the signing of these agreements,” she stated, “we will still need to ratify them in our parliaments and obtain the opinion of the Constitutional Court before we can start using these financial contributions for these projects.”

The Mandraka 3 hydroelectric energy plant extension challenge is predicted with pleasure in Madagascar, and the identical applies to the development of two cable vehicles. “The goal is to increase the rate of electrification in Madagascar, from 15% to 50% by 2023,” explains Rindra Rabarinirisonison. And the 2 cable vehicles solely apply to the town of Antananarivo. We waste about two to a few hours of time and power a day within the capital … ”

The development of the 2 cable vehicles deliberate in Antananarivo will probably be entrusted to the French firms Poma and Colas. They will find a way to serve 80,000 folks a day.

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