Madagascar Airlines has been granted an additional US40 million R682,5 million in financing support from the World Bank as part of the airlines turnaround plan.
This complements the 25 million R426,5 million that was granted last year as part of the World Banks 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.
