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Madagascar: The European Union will release the first installment of the 11th European Fund of development as from December 2014

The European Union (EU) has informed the Malagasy authorities that a first payment of 97 million euros on the 455 million euros granted to Madagascar, in the wake of the allocation of the 11th European Development Fund (EDF) for the period 2014-2020, will be released as from the end of the year 2014.
These post-election measures thus aim to support "reconstruction of the Malagasy State institutions and strengthen the capacity of the administration" as well as help others "to fill the budget deficit, to strengthen the provision of basic public social services such as health and resume the political dialogue for major reforms".
97 million euros are spread especially with 78 million earmarked for budgetary aid (65 million euros paid directly to the public Treasury) and 17 million euros granted to support the Malagasy administration, as reported by the newspaper L'Express of Madagascar.
"Preparations of programs which will be supported under this envelope are underway. Exchanges and discussions are planned in the month of October and the financial decision on transfer is expected before the end of the year... Theoretically the funds can be used before the end of the year, but it all depends on the expenditures the State plans during this period," said Leonidas Tezapsidis, Ambassador of EU to Madagascar and who will be replaced on 1 September next by the Spanish diplomat Antonio Sanchez Benedito Gaspar.
As a reminder, funds allocated to the 11th FED will also be used for rural development, the strengthening of judicial institutions, rehabilitation of infrastructure, but also to create jobs and support social actions on the ground.

Antso Rajaona

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