Madagascar - Economic Competitiveness Support Programme, Phase III (PACE III) (AFDB-P-MG-KA0-012)

  • Madagascar
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 26, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Government of Madagascar
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 13.75 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 10, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the proposed operation concerns phase three of the Economic Competitiveness Support Programme (PACE III) in Madagascar. PACE is a three-year programme-based operation covering the 2017, 2018 and 2019 financial years. PACE III reforms aim to consolidate the achievements of previous programmes and support Government's efforts to implement the reforms listed in the National Development Plan (NDP) 2015-2019. PACE III will lay emphasis on improving country's competitiveness to attract more public and private investment in job-creating sectors such as agro-industry. Therefore, the programme has two components. The first component: "Strengthen the regulatory and institutional framework for the promotion of public and private investment" will help to create a favourable environment for the promotion of public-private partnerships (PPPs) to develop backbone infrastructure projects. The second ("Improve sector governance to support economic competitiveness") will place emphasis on enhancing energy and transport sector performance. The continuity sought in this Phase III also stems from the programme-based nature of the operation. This approach will help to establish a medium-term dialogue platform with the authorities and improve aid predictability in order to facilitate alignment with the country's development policies. It will provide part of the country's funding needs for the 2019 financial year.

PACE will contribute to creating favourable conditions for robust inclusive economic growth by improving economic competitiveness in Madagascar. In this regard, the PACE programme will help to remedy the investment deficit in Madagascar and improve governance in the energy, transport and agro-industry sectors. The programme's expected impact will be to raise the GDP growth rate from 4.2% in 2016 to 5.5% in 2020, and improve Pillar 2 (infrastructure) of the Global Competitiveness Index from 1.9 in 2016 to 2.3 in 2020.

Investment Description
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Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

SOW Koudeidiatou 


The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing,,, and/or You can learn more about the IRM and how to file a complaint at

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