Madagascar Compact

Projected Long Term Results
Project Estimated Beneficiaries Estimated Benefits
Agricultural Business Investment Project 47,525 N/A - (No Economic Rate of Return analysis was done for this Project as it was still undefined at the time of Compact signing. Therefore total benefits expected from this Project were not calculated)
Financial Sector Reform Project 480,347 $34,000,000
Land Tenure Project TBD - (MCC is currently refining the methodology for estimating the number of beneficiaries of its investments in land and property rights. The numbers will be updated as soon as they are available) $89,000,000

The above estimates are based in the best, currently available, information and may be updated if new, reliable, data are available.

The total beneficiary count for the Compact may not be the sum of the different project beneficiary counts because of overlaps between Projects. In other words, some beneficiaries benefit from more than one project but are counted only once in the total beneficiary count.

Total benefits expected from each project are obtained from the ERR analysis MCC conducts during due diligence. Beneficiary counts, although consistent with benefit streams identified in the economic analysis, are not necessarily derived from these models (which are concerned with costs and benefits rather than beneficiaries). MCC estimates and reports expected beneficiaries when sufficiently reliable data exists to support the estimation. If such evidence is lacking, no estimation is attempted, resulting in an underestimation of projected beneficiaries for the Compact. Calculating the amount of benefit per beneficiary would therefore give an overestimation and can be misleading.

Project Objectives
Project Objective
Agricultural Business Investment Project

To improve production technologies and market capacity in the rural areas, through:

  • The creation and operation of 5 Agricultural Business Centers (ABCs);
  • The creation of a national coordinating center;
  • The identification of investment opportunities, and
  • Building management capacity in the zones.
Financial Sector Reform Project

To increase competition in the financial sector by:

  • Promoting legal and regulatory reform;
  • Supporting debt management and issuance reform;
  • Strengthening the National Savings Bank (CEM);
  • Providing new instruments for agribusiness credit;
  • Supporting the National Interbank payment system modernization, and
  • Improving credit skills training and increasing credit information and analysis.
Land Tenure Project

To increase land security by:

  • Supporting the development of the national land policy framework;
  • Improving provision of land services;
  • Improving the ability of the national land service administration to provide land services;
  • Supporting decentralization of land management;
  • Supporting land tenure regularization in the zones, and
  • Facilitating information gathering, analysis, and dissemination.

Projected Results by End of Compact

The Madagascar Compact aimed to achieve the results below by the end of the Compact in June 2010. Because of its early termination and related events, these results were not fully achieved:

  • Secured 250,000 hectares of land in the zones and Antananarivo with land certificates or titles;
  • Increase the value of savings accounts in CEM branches and MFIs supported by the Program by $28.6 million, and 
  • Increased farm income due to improved production and marketing practices by 20%.

Results to Date

Information on results to date is available in the Table of Key Performance Indicators (a subset of the full set monitored under the Madagascar Monitoring and Evaluation Plan). The full set of performance indicators is detailed in the final Monitoring and Evaluation Plan.

Impact Evaluation Framework

Careful monitoring of implementation performance and measurement of intermediate results were carried out throughout Compact implementation. MCC did not fund an impact evaluation of the Madagascar Program but is now planning for an independent program evaluation. This evaluation will use the most rigorous methodology possible to assess whether the Projects have achieved or are on track to achieve their objectives, taking into consideration the fact that most components have not been fully implemented due to early termination. This evaluation will not assess what would have happened in the absence of the MCC investments since no counterfactual exists but will provide a measure of key outcomes and lessons learned.