ĀŅĀ×ŗ£½Ē the Project
More than 80 percent of Madagascarās population earns less than $2 a dayāand agriculture is the dominant employment sector. Underinvestment and capacity constraints have weakened Madagascarās livestock sector, causing the zebu cattle stock to dwindle to six million from 23 million in the 1980s.
Backed by a $7 million combined IFC and ĀŅĀ×ŗ£½Ē Private Sector Window loan and extensive , BoViMaāshort for Bonne Viande de Madagascarāis building a modern feedlot and slaughterhouse close to Tolanaro in Madagascarās impoverished South. The feedlot will source zebu and animal feed from local breeders and farmers, supporting a wide network of jobs and trade.
Separately, the World Bank will provide $53 million to the Madagascar government to help fund an initiative that will train veterinarians, rehabilitate laboratories, and provide better animal care. These improvements will allow Madagascar to issue internationally recognized animal health certificates, opening up the export market. Zebu meat will be shipped overseas through a modern port at Tolanaro that was partly funded by the World Bank.
Under an innovative structure, the ĀŅĀ×ŗ£½Ē portion of the income generated from this project will be reinvested into a Community Reinvestment Fund (CRF), which will be used to finance community development projects including schools and health centers across Madagascar.
Country
- Madagascar
Project Status
Active
Funding
Private
Supervising entity
- IFC
Results
- The project is expected to help BoViMa create jobs and generate significant economic activities in one of the poorest regions of Madagascar. By establishing first modern slaughterhouse, it will help introduce best practices in health and safety standards.
- The project is expected to finance the sale of US$7.7 million of livestock and US$6.6 million of animal feed annually, benefitting approximately 20,000 local cattle and goat herders.
- The project will source cattle and goats from approximately 12,500 smallholder herders, and procure approximately 20,000 tons per annum of food crops from 1,000 smallholder farmers for animal feed. This will lead to an expected increase in income and access to markets for herders, farmers and their families across Madagascar, one of the most fragile countries in the world.
- In total, over one hundred new jobs will be created through this project, over a third of which will be for women.
Contact
Mr. Niraj Shah
Head, ĀŅĀ×ŗ£½Ē Private Sector Window
nshah1@ifc.org
Washington, DC
Tel: 202 473 3743