Madagascar: Creation of a bank and a guarantee fund specialised in housing

Oct 07, 2011

Madagascar's Minister for Country Planning and Decentralisation Hajo Andrianainarivelo has announced the creation of a guarantee fund and a bank specialising in housing.

Madagascar's Minister for Country Planning and Decentralisation Hajo Andrianainarivelo has announced the creation of a guarantee fund and a bank specialising in housing.

The aim of these institutions will be to facilitate property ownership, explained the minister.

He made this announcement during World Habitat Day on Monday (October 3rd) in Anosy, Midi Madagasikara newspaper reports.

The Minister also presented during this conference the project "Trano Mora", the objective of which is to encourage Malagasies bosses to build properties for their employees.

Hajo Andrianainarivelo said that housing is a fundamental human right and the Government is therefore looking for ways to facilitate property ownership for Malagasies, especially because the percentage of urban population should go from 28 percent currently to 50 percent in 2035.

"This is a challenge for the 21st century, at a time when the country is entering a phase of quick urbanisation with an urban growth of 3.7 percent per year and is also suffering from climate change," he was quoted by La Gazette de la Grande Ile newspaper as saying.ADNFCR-2976-ID-800751364-ADNFCR