Madagascar gets 4 million euros for Sahofika hydropower projectChristian Fernsby ▼ | May 25, 2020
The African Development Fund has approved a 4.02 million euro loan with a grant component to finance the Government of Madagascar’s 30 million euro equity investment in the Sahofika hydropower project, which will generate affordable, clean energy benefitting some 8 million people.
Project Madagascar street
The government has committed to plough back the returns from the project to reduce electricity tariffs for the people of Madagascar.
Additional funding for the project is expected to come from the European Union and the Arab Bank for Economic Development in Africa. ■