The financing of the cable transport project was at the heart of discussions between Madagascar and France during the signing of bilateral agreements yesterday at the Ministry of Economy and Finance in Antaninarenina. Faced with questions regarding a potential debt estimated at nearly 150 million euros, the French side sought to clarify the nature of the financial structure.
“There is no debt owed to France concerning the cable transport project. It is a commercial relationship,” stated Arnaud Guillois, Ambassador of France to Madagascar.
This clarification comes as the project is frequently portrayed in public debate as a form of public debt. According to the French representation, the project involves a commercial mechanism between partners, involving private actors and specific financing instruments.
The ambassador also indicated that France remains open to further discussions regarding the project. “France is available for any discussion at any time, including when it involves issues of a private nature,” he emphasized.
The exchanges occur as Malagasy authorities look to relaunch the project, aiming to have the cable transport operational before the end of the year to help reduce traffic congestion in the capital.
Formalized by an agreement signed on September 20, 2021, between the French and Malagasy governments, the project involves the construction of a cable car system in Antananarivo at an estimated cost of 152 million euros.
Financing is based on two mechanisms: a loan from the French Public Treasury and a guarantee provided by Bpifrance Export. The main line, approximately 12 kilometers long, is intended to connect Ambatobe to the city center.
For several months, the financing question has fueled debate, with some raising concerns about its impact on Malagasy public finances. In this context, Malagasy authorities have reportedly raised the possibility of specific treatment for this financial burden during discussions with the French side, with a view to budgetary relief and the relaunch of the project.
Ihariana Sarobidy
Captured & Published at: 2026-06-20 07:30:36 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/06/mobilite-le-transport-par-cable-revient.html