Madagascar is making a decisive move on the international financing stage. At the 11th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), held in Doha in September 2026, the Malagasy delegation consolidated a portfolio of $353.28 million in projects under preparation or execution — enough to fundamentally transform the country's connectivity and energy resilience.
Four flagship projects to open up and decarbonise
The Multimodal Transport and Logistics Programme is the most ambitious undertaking: $100 million from the AIIB, supplemented by $200 million from the World Bank, to modernise road, rail, maritime, and air corridors across eight regions. A project that redraws Madagascar's economic geography, tackling the isolation that has historically hampered competitiveness.
The second tranche — $83.28 million — targets Corridor Development and Trade Facilitation II, aimed at strengthening Madagascar's regional connectivity toward Southern Africa and Indian Ocean economies.
On the energy front, the Volobe hydroelectric project secures $100 million for a capacity of 120 MW — a significant contribution to the energy transition of a country where electricity access remains among the lowest on the continent. Finally, $70 million is proposed for the Havelo Mandrare climate resilience project, with investments along National Road 13.
A clear message at the Doha Congress
The Malagasy delegation, led by Economy and Finance Minister Dr Herinjatovo Aimé Ramiarison, called for « enhancing transport capacity, diversifying the energy mix and reducing climate vulnerability. » A message aligned with the AIIB's second-decade strategy: targeting approximately $20 billion in annual financing by 2030.
Why it matters
For Madagascar, $353 million in AIIB projects represents far more than a financial signal. It is a lever for structural transformation: roads to open agricultural markets, electricity to power industry, corridors to plug into regional trade flows. For the Indian Ocean as a whole, a better-connected Madagascar is a stronger trading partner and a more credible investment destination.
Sources: Madagascar Newsroom, Madagascar Tribune — September 2026.