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Madagascar: Refurbishing and upgrading the Antananarivo and Nosy Be airports
Project
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Signature date
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Location
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Madagascar
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Financing tool
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Financing amount (Euro)
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25000000
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Financing details
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Senior loan of EUR 24,519,230.77 and stand-by loan of EUR 480,769.23
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Customer
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RAVINALA AIRPORTS
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Type of customer
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Company
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Country of headquarters
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Madagascar
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Project number
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PMG1056
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Environmental and social ranking
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A
The loan to Ravinala Airports, the concessionaire, will increase the capacity of the two airports and thereby strengthen the island’s openness to tourism and business – engines for job creation and economic growth.
Client presentation
Ravinala Airports is the concession company for the airports in Antananarivo, the country’s capital (TNR) and Nosy Be, its main tourist destination (NOS).
Project description
The project provides for the implementation of an infrastructure rehabilitation program, which in particular includes the construction of a new terminal in TNR, and the rehabilitation of runways and other airport facilities, which have deteriorated badly.
Project impact
The operation will contribute to (i) improving the reliability and security of the airport service, which will increase passenger traffic; (ii) creating and maintaining over 2,000 jobs; (iii) training employees and transferring new technologies; (iv) the Government’s tax revenues. In this respect, the project will contribute to SDGs n° 8 (Decent work and economic growth) and 9 (Industry, innovation and infrastructure).