WASHINGTON, April 19, 2022 – Yesterday, World Bank Group President David Malpass met with President Andry Nirina Rajoelina of Madagascar, alongside International Monetary Fund Managing Director Kristalina Georgieva.
President Malpass expressed his sympathies on the loss of lives due to severe cyclones and affirmed the World Bank Group’s (WBG) commitment to support Madagascar’s crisis response; including through the Contingent Emergency Response Component (CERC) in the WBG’s existing Madagascar portfolio, as well as additional funding available from the IDA Crisis Response Window. President Malpass emphasized the importance of diversifying agriculture and nutrition away from rice to reduce severe stunting rates.
President Malpass, Managing Director Georgieva, and President Rajoelina discussed the impact of the Russian invasion of Ukraine on Madagascar’s economic situation through higher energy and food prices. President Malpass stressed the need to protect the poorest and most vulnerable through targeted and well-designed social safety nets.
President Malpass and President Rajoelina also exchanged views on the importance of diversifying Madagascar’s energy mix away from heavy fuel oil (HFO) to improve both access to and affordability of electricity. President Malpass stressed the importance of moving away from unfavorable energy contracts that are costly to the budget and crowd out critical social spending.
President Malpass welcomed Madagascar’s progress on constructing the RN44 road and highlighted the WBG’s support for further investment in rural roads and connectivity. President Malpass also emphasized to President Rajoelina the need for enhancements to transparency, accountability and anti-corruption efforts.
President Malpass urged President Rajoelina to prioritize COVID-19 vaccine deployment and highlighted the positive economic benefits to an accelerated vaccination campaign for Madagascar’s tourism sector.
