Madagascar’s performance is satisfactory

The first performance review of World Bank-financed projects for fiscal year 2024 took place in Antananarivo on Tuesday, with Madagascar’s performance deemed satisfactory.

According to the review, Madagascar’s payment rate for all projects increased from 14 % in 2023 to 22.64 % in 2024, surpassing the regional average. The Ministry of Economy and Finance (MEF) attributes this improvement to major reforms in the financial and accounting management of projects.

The objective is twofold: firstly, to optimize the use of funds allocated to ministries for optimum performance, and secondly, to clarify roles to ensure the collective performance of all those involved in project implementation. The World Bank’s local representative in Madagascar highlighted the government’s impactful measures, noting that a new decree has created a supportive framework for all projects.

Madagascar’s Minister of Economy and Finance acknowledged the challenges despite the progress made and guaranteed that the MEF is prepared to provide the necessary support to ensure smooth project implementation in line with the World Bank’s financing terms.