Bank Group and Madagascar Sign Emergency Aid Agreement

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The African Development Bank (AfDB) Madagascar field office and the Malagasy government on Tuesday, 16 June, 2009 in Antananarivo, signed a grant agreement of US$ 1 million as emergency humanitarian aid for victims of the floods caused by cyclone Fanele. The humanitarian assistance operation comes as a supplement to the Bas Mangoky Rice Perimetre Rehabilitation project (PRBM) financed by the Bank Group. The specific objective of the emergency humanitarian aid is to repair the perimeter’s protection dyke damaged by the Mangoky river floods caused by cyclone Fanele. AfDB is very concerned about the impact of the country’s political crisis on Madagascar’s economic and social development given that the people are the primary victims. The Bank’s approach to continue implementing ongoing projects aims at consolidating achievements and ensuring continuity. AfDB has called for a fast resolution of the crisis in order for the country to reengage the international community and attain the MDGs. The agreement was signed for the Bank by AfDB Resident Representative, Sylvie Condé, and Madagascar’s Finance Minister, Razafimahaleo B. J.

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