International Development: World Bank approves $239 million for Madagascar

The World Bank Board has approved US $239 million in soft loans to help Madagascar reach its development goals, fight HIV/AIDS and stimulate economic growth.

Tourism, manufacturing, agribusiness and mining will benefit from the loans.

World Bank task team leader, Ivan Rossignol said,
"The proposed project is a central element of the Bank's strategy in Madagascar. It provides a platform for hard and soft infrastructure delivery in a coordinated and integrated manner, and supports the government's decentralisation initiative".