Money again! for madagascar ( part 1)
Madagascar: World Bank Approves US$129 Million for Integrated Growth Poles in Madagascar
/noticias.info/ Washington DC, July 12, 2005 – The World Bank Board of Executive Directors today approved an International Development Association (IDA) credit* of US$129.8 million to foster broad based economic growth in three export processing zones in Madagascar.
The Integrated Growth Poles project will assist the Government to construct and rehabilitate critical infrastructure essential for sustained economic activity in the tourism, manufacturing, agribusiness and mining sectors. It aims to establish appropriate incentive measures to achieve rapid growth, develop the instruments to ensure equitable, sustainable growth, and strengthen the capacity of local authorities to formulate, prepare, implement, and manage medium and long-term integrated of future regional development projects.
“The proposed project is a central element of the Bank’s strategy in Madagascar. It provides a platform for hard and soft infrastructure delivery in a coordinated and integrated manner and supports the Government’s decentralization initiative”, said Ivan Rossignol, the World Bank Task Team Leader for the Project.
The first component of the project, strengthening the business environment, aims to provide proactive support to the micro, small and medium scale enterprises sector and to strengthen the business environment in the three geographic poles to allow Malagasy firms play a greater role in the economy. It will also provide support for capacity building in tourism and monitor specific policy changes.
The second component, supporting export led growth in Antananarivo-Antsirabe, will help develop off-site investments allowing the creation of an information communication technologies business park in Antananarivo, and provide technical assistance for an industrial and agribusiness zones in Antananarivo and Antsirabe.
The third component, supporting tourism led growth in the Nosy Be, will create an infrastructure platform that will accommodate approximately 2,000 international-level hotel rooms by 2010, and regulatory environment to expand the tourism industry.
The fourth component, mining and tourism led growth in Taolagnaro, will create the infrastructure platform and regulatory environments to open up the landlocked region of Taolagnaro to facilitate the growth of tourism, agribusiness and to catalyze private sector growth in the mining sector.
* The credits are on standard International Development Association (IDA) terms, with a commitment fee of 0.5 percent and a service charge of 0.75 percent. The period of maturity is 40 years, including a 10-year period of grace.
For more information about the Bank in Sub-Sahara Africa, visit: www.worldbank.org/afr/
/noticias.info/ Washington DC, July 12, 2005 – The World Bank Board of Executive Directors today approved an International Development Association (IDA) credit* of US$129.8 million to foster broad based economic growth in three export processing zones in Madagascar.
The Integrated Growth Poles project will assist the Government to construct and rehabilitate critical infrastructure essential for sustained economic activity in the tourism, manufacturing, agribusiness and mining sectors. It aims to establish appropriate incentive measures to achieve rapid growth, develop the instruments to ensure equitable, sustainable growth, and strengthen the capacity of local authorities to formulate, prepare, implement, and manage medium and long-term integrated of future regional development projects.
“The proposed project is a central element of the Bank’s strategy in Madagascar. It provides a platform for hard and soft infrastructure delivery in a coordinated and integrated manner and supports the Government’s decentralization initiative”, said Ivan Rossignol, the World Bank Task Team Leader for the Project.
The first component of the project, strengthening the business environment, aims to provide proactive support to the micro, small and medium scale enterprises sector and to strengthen the business environment in the three geographic poles to allow Malagasy firms play a greater role in the economy. It will also provide support for capacity building in tourism and monitor specific policy changes.
The second component, supporting export led growth in Antananarivo-Antsirabe, will help develop off-site investments allowing the creation of an information communication technologies business park in Antananarivo, and provide technical assistance for an industrial and agribusiness zones in Antananarivo and Antsirabe.
The third component, supporting tourism led growth in the Nosy Be, will create an infrastructure platform that will accommodate approximately 2,000 international-level hotel rooms by 2010, and regulatory environment to expand the tourism industry.
The fourth component, mining and tourism led growth in Taolagnaro, will create the infrastructure platform and regulatory environments to open up the landlocked region of Taolagnaro to facilitate the growth of tourism, agribusiness and to catalyze private sector growth in the mining sector.
* The credits are on standard International Development Association (IDA) terms, with a commitment fee of 0.5 percent and a service charge of 0.75 percent. The period of maturity is 40 years, including a 10-year period of grace.
For more information about the Bank in Sub-Sahara Africa, visit: www.worldbank.org/afr/
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