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Madagascar: China grants 13 million euro for the Island

Two days after the European Union has granted the Malagasy authorities a contribution of 95 million euro, China and Madagascar have officially signed an economic cooperation agreement.
The Island will thus receive 13 million euro from China which will be non-refundable.
In June 2014, a first Chinese subsidy of 15 million euros had been released. These first funds were used in the building of infrastructure such as a hospital and a school.
Before 2009, the international grants represented 45% of the budget of the Malagasy state.
"It is rare that our Government is providing an African country two grants in one year, normally it is one grant in one year. This demonstrates the sincere willingness of the Chinese government to strengthen the cooperation with Madagascar," said Yang Min, Chinese ambassador in Tananarive.

Umee Ruhomally

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