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Home >> World
UPDATED: 21:51, May 11, 2007
FDA provides 10.8 millions dollars to improve energy supply in Madagascar
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The French Development Agency (FDA), a specialized financial institution, has provided 8 millions euro (10.8 U.S. dollars) to increase production capacity of JIRAMA which stands for Madagascan Electricity and Water, a dominant firm in the electricity and water sector in Madagascar.

An agreement was signed here on Thursday, between Madagascan Minister of Finance and Budget Andriamparany Radavidson Benjamin, FDA general manager Denis Castaing and French Ambassador to Madagascar Alain Le Roy, according to Tribune, a French-language daily published on Friday.

This amount would serve to realize investment to increase the JIRAMA's production capacity while reducing its costs and consolidating energy management in the Indian Ocean island country.

According to Madagascan assistant manager of electricity, Dieudonne Rajoelina, the on-going series of power cuts in several towns in the country was due to the lack of available power caused by the deterioration of many electronic sets.

Source: Xinhua

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