Madagascar’s Ministry of Economy and Finance reported on two meetings held alongside the World Bank Group and International Monetary Fund Annual Meetings, where Finance Minister Herinjatovo Aimé Ramiarison presented the country’s climate and economic development priorities and discussed reforms and investment delivery with the World Bank. The agenda links macroeconomic stabilization with climate resilience, energy reform and investment in sectors expected to support growth and employment. The Climate Prosperity Plan, adopted on Aug. 12, prioritizes green industrialization, energy and food security, community resilience, enterprise development and biodiversity protection. Government projections indicate that implementation could lift real gross domestic product 51% above the baseline by 2050 and create 652,000 green jobs. A separate 2027-2028 economic recovery plan targets agro-industry, tourism, digital services and textiles, with growth projected at 5.1% in 2027 and 7.3% in 2028. It also calls for a better business environment, more predictable taxation and expanded renewable energy. In bilateral discussions, the government and World Bank advanced preparations for a development policy operation focused on mining legislation, governance of state utility JIRAMA, telecommunications and the Road Maintenance Fund. They also reviewed JIRAMA’s recovery, financing for the Volobe hydropower project and a proposed USD 220 million multisector climate resilience plan. World Bank project disbursements reached about 31% in the previous fiscal year, but administrative, legal, land and environmental constraints continued to delay implementation, prompting a focus on streamlined procedures and stronger interministerial coordination.

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