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30th June 2017

Boosting trade and tourism in Madagascar

PIDG finances airport upgrades in one of the world’s poorest countries

Runways and passenger terminals at two airports in Madagascar are to be upgraded in a project supported by the Emerging Africa Infrastructure Fund (EAIF).

The improvements will help market the airports to airlines and tourism operators worldwide, driving growth in the country where more than 75% live below the poverty line.

“The Madagascar airport projects represent a step change for the country’s economic development drive,” said EAIF Chairman David White.

Passenger handling capacity will more than double at Ivato Airport in the country’s capital, and its runway will be reinforced and resurfaced, allowing it to handle wide-bodied aircraft.

Terminal and runway works are also central to the improvements at Fascene Airport in the north, where passenger capacity will increase by 500,000 a year.

Among the direct benefits of the project will be construction employment for local people, growth in the numbers permanently employed at the airport by its operator and in terminal retail outlets. The project is expected to deliver €61m in taxes to the Madagascan government.

Supporting private sector operator Ravinala Airports, PIDG company EAIF has provided a €25m long-term loan to support the €215m project.