Madagascar/QMM - $4 million for a sustainable economic future
In a difficult economic context, QMM's partnership with the Malagasy government, worth USD 4 million per year, aims to promote sustainable development. Through strategic CSR projects, it also seeks to strengthen the local economy.
In response to Madagascar's major economic challenges, particularly poverty and inequality, a strategic partnership between QMM and the Malagasy government has been launched to stimulate the country's sustainable development. The partnership provides $4 million in annual funding for Corporate Social Responsibility (CSR) projects, divided into three main areas: $500,000 for reforestation, $1,750,000 for regional development and $1,750,000 for the communes affected by the project.
The aim of this collaboration is to strengthen the local economy by creating jobs and supporting essential infrastructure projects. By allocating a significant proportion of the budget to regional development, this partnership will aim to boost the country's vulnerable areas, immediately encouraging the growth of small businesses and improving access to basic services such as education and water. These initiatives are also designed to minimize negative environmental impacts while ensuring sustainable economic development.
A follow-up mission, led by the Minister of Mines, Herindrainy Olivier Rakotomalala, has assessed progress and adjusted the projects in line with the needs of local communities. A recent meeting at the Mandena site brought together government officials and private sector players to discuss the results and economic impact of ongoing projects.
As a result of these discussions, several adjustments were recommended, including the postponement of the uncommitted budget for 2025 in order to optimize the use of funds. It was also proposed to strengthen coordination between QMM, the World Bank and other donors to maximize the impact of infrastructure projects. Finally, a procedures manual will be drawn up to ensure efficient and transparent project management.
Source: www.lexpress.mg/
