| Project Detail |
The Industrialization and Financial Sector Support Project (PAISF) is based on a long-term approach aimed at transforming Madagascars industrial sector and positioning it as the main driver of growth and creation of decent jobs for the most vulnerable population, particularly women and young graduates. The PAISF is complementary with the Banks other projects in the country. In particular, the PAISF is a continuation of the of the Investment Promotion Support Project (PAPI) and will carry out priority activities that could not be implemented under the latter. It is an institutional support operation to help build a robust industrial sector that can create decent jobs, especially for the most marginalized groups of the population, namely women and young people, as well as address the countrys vulnerability by strengthening its resilience. The PAISF has two (2) operational components, namely: (i) development of industrialization; and (ii) development of an enabling financial sector for industrialization. The third component relates to project management. The project total cost is estimated at UA 12.08 million.
Project Objectives
The project’s objective is to create conditions that would attract private investment in Madagascars manufacturing sector, particularly in areas where the country has comparative advantages (textiles, food processing, etc.).In particular, the project will aim to accelerate the development of Industrial Emergence Zones that will capitalize on Madagascars comparative advantages, develop regional value chains, and attract international investors. The project will also support regional industrialization on the Ghanaian model of "one factory, one district" so that industrial development is inclusive throughout the country. In addition, it will facilitate the establishment of a long-term sustainable public-private partnership (PPP) fund to involve the private sector in the development of transformative infrastructure. Finally, the National Industrial Development Fund (FNDI) will provide financial assistance to Madagascar’s SMEs while supporting their integration into industrial value chains. |
