Madagascar aims to secure 8.65 trillion ariary (1.9 billion US dollars) in funding for 2026, a 20 percent increase over its planned borrowing this year, Bloomberg reported.

The government plans to rely primarily on concessional loans, with lenders such as the International Development Association, the African Development Bank, and the European Investment Bank expected to provide 5.84 trillion ariary. Commercial borrowing will play a limited role, the Finance Bill shows, while additional financing of 542 billion ariary is projected from International Monetary Fund programs.

On the domestic front, authorities are targeting 2.81 trillion ariary through government bonds, aiming to strengthen the local capital market and attract a wider range of investors. This approach is part of a medium-term debt strategy spanning 2026–2028.