The government of Madagascar and the African Development Bank have reached a consensus to uphold the mid-term results of the Country Strategy Paper 2022-2026 and continue its strategic directions until 2026. This agreement was reached at a workshop held on May 6, 2024, in Madagascar, where the outcomes of the CSP mid-term review were discussed alongside an examination of the country's portfolio performance for 2024.
In the initial two years of the CSP's implementation, projects funded by the Bank contributed to developing over 20,000 hectares of irrigated land, constructing and equipping more than 270 kilometres of roads, and creating thousands of direct and indirect jobs. The execution of agricultural projects such as the Mid-West Young Rural Businesses Project and the Program for Promoting Youth Entrepreneurship in Agriculture and Agro-industry project played a significant role in increasing rice production from 4 million tonnes in 2021 to 5.32 million tonnes in 2023.
Bank backing also offered technical and financial support to 354 micro, small and medium-sized women-led agricultural businesses, resulting in job creation for 7,584 women. In transport, the completion of the Project to Develop Corridors and Facilitate Trade led to an increase in average heavy-goods traffic on national road RN9 from 27 to 108 vehicles daily.
During this workshop, both parties agreed to maintain their focus on key areas such as transport, energy, agriculture and industry for another two years. The two priority areas for CSP 2022-2026 remain transport and energy infrastructure development for inclusive growth along with support for transforming agriculture and developing manufacturing industries.
The meeting was chaired by Rindra Hasimbelo Rabarinirinarison, Madagascar’s Minister of Economy and Finance who is also a Bank governor. Attendees included members of the Malagasy government, ambassadors, leaders of international organizations, representatives from public authorities and the private sector, as well as the African Development Bank team.
In her address, Minister Rabarinirinarison expressed that the Malagasy government is determined to continue its strategic partnership with the Bank Group. This is in an effort to compensate for the delay in the structural transformation of the country’s economy while creating conditions conducive to more inclusive shared growth. “There are numerous prospects and several challenges yet to be tackled. Hence the importance of reviewing the performance of the portfolio to guide and improve project implementation in a concerted manner to maximize expected project outcomes,” she affirmed.
The review was participatory, involving a broad consultation of all stakeholders including government, private sector, civil society, and technical and financial partners. Sector-specific sessions, themed discussions and bilateral meetings alongside the portfolio performance review workshop resulted in an Annual Improvement Plan for portfolio performance in Madagascar.
Adam Amoumoun, head of the African Development Bank’s Country Office in Madagascar, expressed satisfaction at this positive evaluation. He stated: “I am delighted to see a positive evaluation of the implementation of the 2022-2026 strategy, two years in. It indicates that the mid-term objectives of the Bank’s operational program in Madagascar have been broadly met, not only in terms of resources mobilized but also achievements on ground and impact on population.”
As of May 1, 2024, the Bank Group's active portfolio in Madagascar comprised 20 operations with a total commitment amounting to approximately $830 million.
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