NEWS RELEASE COMU/F/49/00
Abidjan, Côte d'Ivoire, 31 October 2000
ABIDJAN, 31 OCTOBER 2000 - The Board of Directors of the African Development Fund (ADF) approved today a loan of 6.52 million Units of Account (UA)* - approximately US $ 8.46 million to finance the Bank participation in the financing of the cyclones Eline, Gloria and Hudah damage repairs project in Madagascar.
The project objective is to open up the four provinces of Madagascar (Antsiranana, Majunga, Tuelar and Fiananaransto) in order to restore agricultural activities and access to social services, namely schools and health centres. The project particularly seeks to re-establish traffic on 1,767 km of roads and 153 km of railway in order to restore the level of services prior to the outbreaks of the cyclones.
The project will involve the repair of 1,767 km of classified road network as well as the procurement and installation of 270 m long modular bridges. It will also involve the repair of the 153 km long Southern railway line, including the renewal of about 1,000 m of railway.
The loan will finance the entire foreign exchange cost and 63% of the local currency expenses of the project whose total cost amounts to UA 7.24 million- approximately US $ 9.39 million. It will be repaid over 50 years including a 10-year grace period.
Bank Group operations in Madagascar started in 1977. To-date, the Group has committed a total of US$ 489.494 million for 44 operations of which US$ 367.099 million has been disbursed.
* 1UA = US$ 1.29789 as at October 1st, 2000
Description: Repair works over 1767 km classified roads; procurement and installation of 270 m of modular bridges; repair works on the 153 km long southern railway line; inspection and monitoring of works; project auditing.
Beneficiary: Republic of Madagascar
Executing agency: Ministry of
B.P. 51 ANOSY - ANTANANARIVO
Telex: (261) 20 22 27 867 ; Fax: (261) 20 34 94 68
Ministry of Transport and Meteorology
B.P. 4139 ANOSY-ANTANANARIVO
Tel: (261) 20 22 246 04 ; Fax: (261) 20 22 240 01
Estimated starting date: May 2001
Duration: 20 months
Procurement: International competition bidding: repair works, supply and installation of modular bridges; shortlist: consultants.
(Tel.): K. Saiki (225) 20 20 41 18 - Email: email@example.com
I. Adegoke (225) 20 20 49 65
Technical Contact: (Tel): A. Kies (225) 20 20 43 17