Madagascar: Proparco agrees a €25 million loan to fund the development of Antananarivo and Nosy Be airports

published on 06 June 2017
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Against a backdrop of the three-fold increase in regional traffic over the past 15 years and the saturation of capacity at Antananarivo’s international airport, this loan is part of a global investment by Ravinala Airports to upgrade the infrastructure of the two airports.

This loan will be used to redevelop the airport infrastructure of Madagascar’s capital city and its major tourist destination, Nosy Be. In particular, it will be used to build a new terminal at Antananarivo Airport, resurface runways and upgrade other airport infrastructure.

This investment is part of the commitments given by Ravinala Airports – the concession holder, owned by Meridiam, Aéroports de Paris Management, Bouygues Bâtiments International and Colas – when it was awarded the concession to operate the two airports in 2015.

A key development imperative for Madagascar

Boosting airport capacity plays a key role in opening up the Island to tourism and business, the two catalysts of job creation and economic growth.

This initiative is a perfect fit with Proparco’s mission to partner strategic private sector projects that will drive sustainable growth in Africa. It also sends out a strong positive message that private sector investment has returned to Madagascar for large-scale, capital-intensive projects.