On September 20, 2024 in Abidjan, the Board of Directors of the African Development Bank Group granted Abidjan a loan of 67.3 million US dollars to Madagascar to Madagascar to implement the first phase of its support program & worsen; financial management and economic resilience for the period 2024-2025

The first phase of the financial management and economic resilience support program aims, according to Adam Amoumoun, head of the African Development Bank's country office in Madagascar, “to contribute to the creation of conditions favourable to strong and inclusive economic growth by strengthening economic and financial governance and improving economic resilience.” This loan from the African Development Fund, the Bank Group's concession window, includes financing from the Transition Support Facility. For Amoumoun, this loan “supports the Malagasy authorities in the implementation of priority reforms of the General State Policy (PGE) 2024-2028 and the New Energy Policy (NPE) of Madagascar for 2015-2030. It will thus make it possible to remedy the investment deficit by expanding fiscal space by freeing up additional resources for economic recovery, while improving the governance of the energy sector.”

The program will support the deployment of the Integrated Tax Administration System (SAFI) in order to modernize tax management, dematerialize tax transactions, facilitate revenue collection and taxpayer management, and combat tax evasion.