ECONOMY

 $1.3 Billion from the New Country Partnership to support resilience and inclusive growth in Madagascar.

Washington June 27. 2017 .  The World Bank Executive Board approved the New Country Partnership Framework (CPF) to support financially Madagascar at the tune of $ 1.3 billion. Funding that will be used to  support government's goal to increase resilience and achieve a stronger, inclusive and sustainable growth trajectory to reduce poverty for five years covering the 2017 – 2021 period.

 

More focus on population, accountability and private investment

Despite its many strengths, Madagascar has lagged behind on several dimensions of development: nearly 80 percent of the population live on less than US $ 1.90 a day. During the Donor and Investor Conference in December 2016, the World Bank Group announced a commitment of $ 1.3 billion over the next three years. The Country Partnership Framework, developed in consultation with government and other stakeholders, identifies three priority areas to be funded. Its main objective is to increase the resilience of populations by strengthening human capital since early age, improving livelihoods through more productive agriculture, fisheries, and better resource management.The second priority will be to reduce the country’s fragility by supporting the authorities' endeavours for more effective decentralization and accountability. Finally, it aims to foster inclusive growth by helping the authorities to increase their internal resources by encouraging private investment to support the development of productive value chains and by investing in expanding access to energy.


"With continued political and economic stability, Madagascar has a unique opportunity to break with past trends and enable its people to realize their potential. The World Bank Group is committed to working with the authorities and bringing its resources and expertise to this common goal of reducing poverty and promoting inclusive growth "said Coralie Gevers, World Bank Representative in Madagascar.

Actually, 80 % of  malagasy citizen still live with lower than 2$ per day and the country ranks fourth among countries with the most chronic malnutrition rates by 2021,  many are certainly eager to see the impact of new wave of funding  in population’s lives knowing that more than $ 6 Billions were already  given  to fund approximately 3280 projects in Madagascar  and this concerns only data available from  all International Aid Transparency Initiatives statistics reported on d-portal.org website continuing to increase month after month.

Published on Thursday, 29 June 2017 10:24
Written by F. RAFIDIHARINIRINA