Madagascar: Government receives €4m loan for Sahofika hydro

The African Development Fund, managed by the African Development Bank (AfDB), has approved a €4.02m ($4.4m) loan to help fund the government’s €30m equity investment in the 205MW Sahofika hydropower project on the Onive River. The loan includes a small grant component and additional funding for the government’s investment is expected from the European Union and the Arab Bank for Economic Development, which are both expected to provide around €13m, with the government providing €1.6m.