“The World Bank Group pledged $1.3 billion over the next three years to support Madagascar’s development through its national development plan. The announcement was made at the Donors and Investors Conference for Madagascar, held in Paris on December 1 and 2, 2016.
Madagascar is renowned for its exceptional biodiversity and abundant natural resources. However, due to successive crises, 90% of the population live below the poverty line and half of the children under five suffer from chronic malnutrition.
“Madagascar recovers from a long political, economic and social crises. In order to accompany the country on the right track of an inclusive and sustainable growth, the World Bank decided to provide an exceptional funding to Madagascar to help the Government pursue the necessary reforms that will boost the economy and expand the access to basic services and markets by the population,” said Makhtar Diop, World Bank Vice President for the Africa Region.”