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African Risk and Disaster Management Financing Programme: AfDB signs two agreements

19/01/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The African Development Bank (AfDB) is very satisfied with Madagascar's performance in carrying out projects. These projects are part of the partnership between the two parties.

The Bank's satisfaction was confirmed by the signing of two financing agreements between the Minister of Economy and Finance, Rindra Hasimbelo Rabarinirinarison, and, the ADB's country representative in Madagascar, Adam Amoumoun. Indeed, the first agreement concerns the additional financing of the African Risk and Disaster Management Financing Programme (ADRIFI). The Bank has thus made a multi-donor donation for 4.7 million dollars, a grant agreement from the African Transition Facility, for an amount of 5.875 million dollars, and a loan agreement, again under the FAT for an amount of 7.111 million dollars.

In reality, Madagascar's contribution to this project amounts to 1.547 million USD. As for the second agreement of 3.49 million dollars, this financing comes at the beginning of the cyclonic period since its objective is to promote resilience and the response to climate shocks in Madagascar by improving the management of natural disaster risks and adaptation to climate change. The financing of projects that will allow Madagascar to strengthen the resilience of ecosystems and populations to the effects of climate change through actions to mobilize, protect and enhance water resources.

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