Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.
$1,500,000.00 (Project budget includes all project-funded activities)
Last Updated Date
Jul 1, 2025
Project Estimated Start Date
May 1, 2025
Project Estimated End Date
Jun 30, 2029
Project Description
The Madagascar Capital Market Development Project is aimed at facilitating access to long-term local currency financing for public and private projects and institutions by addressing financial system weaknesses that will enhance market efficiency, expand financial instruments, mobilize domestic savings and attract both local and international investors.
Development Results
The objective of the Madagascar Capital Market Development (CMD) Project is to support the development and implementation of legal, institutional and capacity reforms to enable functioning and operationalization of capital markets in Madagascar.
The project is expected to achieve the following by closure:
• New or amended regulatory framework and policies related to capital markets adopted/enacted.
• Recommended procedures/firm-level policies/practices/standards related to market infrastructure, government and non-government securities markets and money markets improved or eliminated.
• Improved capacity of institutional investors, regulators and market participants to participate in government and nongovernment bond markets, new asset classes and capital market instruments.
• A pipeline of demonstration transactions identified and supported for potential issuance.
Indicator
Cumulative
Number of entities receiving in-depth advisory services
null
Number of new laws/regulations/amendments/codes/government policies drafted, or contributed to the drafting
null
Number of participants in workshops, training events, seminars, conferences, etc.
null
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
null
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
null
Number of workshops, training events, seminars, conferences, etc.
null
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
The principles of the relevant Performance Standards have been applied to the project design. Environmental & Social risks will continue to be reviewed throughout the life cycle of the project.
Where relevant, IFC will assist the Clients in defining measures to identify and manage E&S risks and impacts of the business activities supported by the project.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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