IFAD: no funding for new projects

The Malagasy Minister of Agriculture, Roland Ravatomanga, attended last week in Rome, Italy, the Meeting of Governors of the Fund for Agricultural Development from the various recipient countries of funds provided by IFAD (International Funds for Agricultural Development). This high-level meeting took place under the aegis of the IFAD President, Kanayo F. Nwanze. The meeting focused on the improvement of the relationship between IFAD and the beneficiary countries, and on the status of projects already funded by the organization.

As for Madagascar, several ongoing projects are working thanks to funds already provided following funding or loan agreement signed with technical and financial partners before the start of the crisis in 2009. These include the Project to Support the Development of Menabe and Melaky (AD2M), the Program for Promoting Rural Revenue (PPRR), the Support Program for the Reinforcement of Professional Organizations and for Agricultural Services (AROPA), the Support Program for the Rural Micro-enterprises poles and Regional economies (PROSPERER).

Concerning the signing of the loan agreement for the additional funding of the Formaprod Project, scheduled for February 21, 2012, IFAD has so far refused to sign. This refusal is considered as one of the measures taken by foreign donors tending to punish Madagascar for its continuing political turmoil. IFAD stated that it will not release any funds for any new projects unless the political situation presents some signs of improvement. The ball is then in the politicians’ camp.