Borrower The Malagasy Republic
Amount Equivalent in various currencies to $10 million.
Purpose To finance a) the engineering, reconstruction and aspbalt
paving, and supervision of construction of two sections
totalling 160 kms of the National Road No. 4 linking
Tananarive and Majunga; b) Economic feasibility studies
and final engineering of a section of 13 kms of the
National Road No. 4 including a bridge over the Betsiboka
River.
Amortization The development credit would be for a period of 50
years with no amortization for 10 years. One
half of one percent of the principal amount would
be payable semi-annually from October 15, 1976 to
April 15, 1986, and one half percent semi-annually
from October 15, 1986 to April 15, 2016.
Service charge 3/4 of 1% per annum on the principal amount of the
credit disbursed and outstanding.