twitter RSS Feed linkedin acp contact

AfDB grants US$11.23mn to Madagascar’s energy, agriculture and pest control

The African Development Bank (AfDB) has signed five project financing agreements with the government of Madagascar worth US$11.23mn

Madagascar AgriAfDB aims to develop agriculture and agro-value chain in Africa. (Image source: CIF Action/Flickr)

The first two agreements focus on youth entrepreneurship promotion programme to train and finance 410 young people, 50 per cent of them women, to become entrepreneurs in agricultural and agro-industrial value chains in Madagascar.

AfDB has also signed two other projects to strengthen and interconnect electric power transmission in Madagascar (PRIRTEM). This study will prepare the major construction project for the Tamatave - Antananarivo transmission line associated with the reinforcement of the Antananarivo distribution network. The second study focuses on the preparation of the Integrated Agricultural Growth Cluster Project in the South (PICAS).

Signing for the Malagasy government, the Minister of Finance and Budget, Vonintsalama Sehenosoa Andriambololona, said that the financing in the sectors of energy and agriculture will contribute to accelerating the transformation of agricultural value chains, industrialisation and the creation of formal wage employment.

They will also contribute to meeting the basic health needs of the people. Skills development and support for small and medium-sized enterprises will also be part of the activities.

In 2017, AfDB approved projects to develop infrastructure energy and transport to support inclusive growth and support for agricultural transformation and industry development in Madagascar.

The Bank began its operations in Madagascar in 1977, and as of 31 December 2017, it approved a total of 89 operations, mainly in the transport, industry, finance and agriculture sectors, for a total of cumulative amount of US$1.88bn. The current portfolio of the bank in the country includes 14 operations which cover three main sectors such as agriculture (54.71 per cent), transport (31.44 per cent) and governance (11.61 per cent).


LATEST NEWS IN Agriculture

Norway promises top-up contribution of urgently needed climate finance

Norway promises top-up contribution of u…

On 9 November 2022, Norway, as part of a commitment to triple its support to climate adaptation by 2026, has pledged an additional US$9.5mn contribution of urgently needed climate finance...

Better Cotton signs partnership agreement with IDH and CotonChad

Better Cotton signs partnership agreemen…

Better Cotton recently signed a multi-stakeholder Letter of Intent to participate in the landscape approach, developed with local stakeholders in Chad in conjunction with IDH, intending to work towards improving...

NFU president Minette Batters appointed as ambassador of Farm Africa

NFU president Minette Batters appointed …

Farm Africa, a charity that promotes sustainable agricultural practices, strengthens markets and protects the environment in rural eastern Africa, has announced the appointment of NFU president Minette Batters as an...

AfDB grants US$63.38mn loan to implement agro-processing project in Senegal

AfDB grants US$63.38mn loan to implement…

The board of directors of the African Development Bank (AfDB) Group in Abidjan has approved a loan of US$63.38mn to Senegal to implement the Agropole-Centre agro-industrial processing zone project

Farming innovations which help conserve nature and create jobs

Farming innovations which help conserve …

On World Food Day, farmers in the UK and globally showed how innovative farming methods and techniques can improve lives, help meet global climate targets and produce food without harming...

US$20.5mn renewable energy agriculture project launched in Ethiopia

US$20.5mn renewable energy agriculture p…

On 12 October, the Distributed Renewable Energy - Agriculture Modalities (DREAM) initiative began with the launch of nine renewable energy mini-grids and irrigation systems across Ethiopia

Prev Next

OTHER RELATED ARTICLES - Agriculture

South African government to create new job opportunities in agricultural sector

South African government to create new j…

The Department of Agriculture, Forestry and Fisheries will in the next 16 years aim to create one million jobs, according to minister Senzeni Zokwana

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

Perstorp unveils chloride-free potassium product

Perstorp unveils chloride-free potassium…

Perstorp, global specialty chemical providers, has launched Amicult K42, chloride-free potassium product that aims to protect crops against frost damage

The new tillage professionals: SYNKRO stubble cultivators

The new tillage professionals: SYNKRO st…

The end of harvesting means the start of the next one, and after concluding a successful harvest, farmers start working on cultivating the soil

Coffee, cotton and fruit are now experiencing a revival

Coffee, cotton and fruit are now experie…

Apart from oil and diamonds, Angola's major export earners for the past four decades, the country previously had substantial exports of cash crops which fed food processing and textile industries

Severe cash crunch threatens WFP operations in Ethiopia

Severe cash crunch threatens WFP operati…

The Ethiopian authorities, together with WFP and other partners, are struggling to address the hunger crisis in the country as WFP urgently needs US$579mn to deliver food aid and livelihood...

Mozambique hosts Africa Sugar Conference 2016

Mozambique hosts Africa Sugar Conference…

The 6th Africa Sugar Conference took place in Mozambique from 30 March to 1 April this year

Ethiopia’s Tepi Coffee becomes fully privatised

Ethiopia’s Tepi Coffee becomes fully pri…

Green Coffee Agro Industry (GCAI) has bought 49 per cent share of Tepi Coffee Plantation (TCP) that was held by Ethiopia’s government

IFAD to mobilise US$500mn fund for small-scale farmers

IFAD to mobilise US$500mn fund for small…

If investments to help rural small-scale farmers adapt to climate change do not substantially increase, we risk widespread hunger and global instability, warned Gilbert F. Houngbo, president of the International...

Precision farming market to see stupendous growth till 2029, says Fact.MR

Precision farming market to see stupendo…

The global precision farming market set to see a stupendous 12 per cent CAGR from 2019 to 2029, according to Fact.MR

Training for agriculture

Training for agriculture

ACOMMON TRAIT in many African countries seems to involve a reduced emphasis on agricultural training when the country achieves independence. In Nigeria an excellent system of teaching farming and gardening...

Nigeria bans importation of maize to ramp up local production

Nigeria bans importation of maize to ram…

The Central Bank of Nigeria has banned the importation of maize into the country to increase the local production, stimulate a rapid economic recovery, safeguard rural livelihoods and increase jobs which...

Prev Next