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Madagascar: 50 million euros released for Malagasy firms by an affiliate of the AFD

The financial institution Proparco, a subsidiary of the French Development Agency (AFD) which had ceased its financing since the 2009 political crisis in the Island, is about to release 50 million euro to support enterprises in Madagascar.
"Our actions are focused on economic growth, employment creation as well as fiscal revenues for the states, but also on people's access to essential goods and services and, mostly, on the reduction of poverty" said Claude Peru, Director of Proparco.
Proparco 'finances economically viable investment, socially equitable, environmentally sustainable and financially profitable. "
According to the latest figures published by the organization of the Economic Development Board of Madagascar (EDBM), 1,034 enterprises had been recorded during 2014 in the Island against 945 which had been created the previous year. This figure is close to that of 2010 when 1,040 companies were registered.


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