Madagascar Airlines has been granted an additional US$40 million (R682,5 million) in financing support from the World Bank as part of the airline’s turnaround plan.
This complements the $25 million (R426,5 million) that was granted last year as part of the World Bank’s Economic Transformation for Inclusive Growth Project, and forms part of a $65 million (R1,1 billion) financing package.
The government is working to finalise the remaining conditions for the financial support, which should be met by the end of this month.
