Active Development AidData Chinese Aid

China Eximbank provides RMB 408,265,000 government concessional loan for the Development and Expansion of National Route 2 (RN2) from Toamasina to Tsarakofafa Project

¥408.27M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Madagascar
Country	Madagascar
Start Date	Sep 03, 2018
End Date	Dec 31, 2033
Duration	5,598 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`57757`

Grant Description

China Eximbank provides RMB 408,265,000 government concessional loan for the Development and Expansion of National Route 2 (RN2) from Toamasina to Tsarakofafa Project On January 19, 2018, the Chinese Government and the Government of Madagascar signed a preferential loan framework agreement on the Development and Expansion of National Route 2 (RN2) from Toamasina to Tsarakofafa Project.

Then, on September 3, 2018, the Government of Madagascar signed an RMB 408,265,000 government concessional loan (GCL) agreement with China Eximbank for the Development and Expansion of National Route 2 (RN2) from Toamasina to Tsarakofafa Project.

Several months later, on December 28, 2018, the Malagasy High Constitutional Court authorized the ratification of the loan agreement.

📋 Loan / Grant Terms

📅 Maturity30 years

⏳ Grace Period5 years

💹 Interest Rate1.5%

The project involves the widening of a 3.606 km existing stretch of highway from National Route 2 (RN2) to Pangalane Bridge and the construction of a 6.26 km stretch of highway between Pangalane Bridge to Tamatave Port. Once the highway is operational, a toll system will be put into place. The RN2 is the major highway in Madagascar that connects to the capital city of Antananarivo.

The ultimate purpose of this project is to de-congest traffic on the RN2. Anhui Foreign Economic Construction Group Co. (AFECC) is the contractor responsible for implementation. Construction began on April 7, 2019 and was originally expected to last for two years. However, the project encountered multiple delays and obstacles.

As of September 2024, the project had achieved a 25% completion rate. As of December 2024, the project was 30% complete and it was scheduled for completion by December 2025.

📋 Staff Comments

The French project title is Projet d’Aménagement et d’Extension de la Voie Rapide Reliant le Port de Toamasina et la RN2. The Chinese project title is 马塔马塔夫港至2号国道快速路项目 or “疏港路”项目 or 塔马塔夫疏港路 or 建的港口至二号国道快速路项目.
In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not record the borrowing terms of the loan that supported this project. AidData records the borrowing terms (30-year maturity, 5-year grace period, and a 1.5% interest rate) that were presented to Madagascar’s National Assembly immediately before the ratification of the loan.

📚 Sources & References

Validation de l’accord de prêt entre Madagascar et EXIM Banque
Infrastructures - A fast track between the port and RN2
Autoroute Tanà – Toamasina : L’aspect financier au centre des discussions
Décision n°43-HCC/D1 du 29 décembre 2018 concernant la loi n°2018-040 autorisant la ratification de l’Accord de prêt relatif au financement du Projet d’Aménagement et d’Extension de la Voie rapide reliant le Port de Toamasina et la RN2 conclu le 3 septembre 2018 entre la République de Madagascar et l’EXIM Bank de Chine.
中马合作简介
DOCUMENT BUDGETAIRE, uto r i sa nt la r a ti fi c a ti on de l' Ac cord de P r ê t rela t if au fi nancem en t d u Projet d'A ménagem en t et d' Extension d e l a v oi e r a p ide r e li a nt le Por t de Toamas in a e t l a RN2 conc lu le 03 septemb r e 2 0 1 8 e nt r e la République de Madagas c ar et l' E X IM Bank de Chine
驻马达加斯加大使杨小茸在“中华文化炫动塔马塔夫”活动上的讲话
Aperçu de la coopération économique entre la Chine et Madagascar
中国援马疏港路项目开工仪式在马举行
Décision n°43-HCC/D1 du 29 décembre 2018 concernant la loi n°2018- 040 autorisant la ratication de l’Accord de prêt relatif au nancement du Projet d’Aménagement et d’Extension de la Voie rapide reliant le Port de Toamasina et la RN2 conclu le 3 septembre 2018 entre la Répu- blique de Madagascar et l’EXIM Bank de Chine
Coopération Chine- Madagascar : une voie rapide du port de Tamatave à la RN2
Madagascar Liberte
PROMESSE PRÉSIDENTIELLE : UN MOIS PLUS TARD LA POSE DE LA PREMIÈRE PIERRE DE LA VOIE RAPIDE RELIANT LE PORT DE TOAMASINA ET LA RN2 S’EST FAITE
B ULLETIN S TATISTIQUE DE LA D ETTE
Interview de l'Ambassadeur YANG Xiaorong au journal malagasy MIDI
Revue de Milieu d’Année 2021
In Madagascar
Yang Xiaorong and Ma Foreign Minister attended the signing ceremony of the China-Malaysia government's excellent loan framework agreement
Promesse présidentielle : un mois plus tard la pose de la première pierre de la voie rapide reliant le port de Toamasina et la RN2 s’est faite
BSD 11: Public debt issues until the end of September 2018
Document Budgetaire: ANNEXE AU PROJET DE LOI N°034/2018 DU 24 OCTOBRE 2018 PORTANT LOI DE FINANCES POUR 2019
RN2 Expressway to Toamasina Port : Completion Expected by 2025
China's Overseas Development Finance
TOAMASINA – Environ 25 % des travaux de construction de la voie rapide reliant le Port à la RN2 achevés, selon le ministère des Travaux publics
Voie rapide RN2-Toamasina: le MTP suit de près l’avancement des travaux Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.

All Grantees

Government of Madagascar

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