Germany has provided a grant of 7 million euros (about 10 million U.S. dollars) to Madagascar to support its ambitious development from 2007 to 2012.
An agreement was signed here on Thursday between Madagascan Minister of Finance Budget Haja Nirina Razafinjatovo and the director of Kreditanstalt fur Wideraufbau (KFW) to Madagascar, or Dutch Development Bank, Burkhard Margraf.
The non-repayable fund from the German government is set to be disbursed before December 2014, according to Les Nouvelles, a French-language daily, published on Friday.
This was the first financial support provided by German government, which has promised support development and environmental projects in the Indian Ocean island country.
Germany and Madagascar have maintained good relations ever since 1883, when the two countries signed a treaty of friendship.
Bilateral relations between Madagascar and Germany have been consolidated in recent years with Germany actively contributing to the economic and technical development of the country.
Source:Xinhua
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