Aloan agreement for the expressway project connecting the Ivato International Airport and the Boulevard De L'europe was signed in Madagascar's capital Antananarivo on September 8.
The project, which will be built by China Road and Bridge Corporation (CRBC), will receive preferential buyer credit from the Export-Import Bank of China.
The 18.7-kilometer project adopts Chinese standards. Its connection line was completed in 2017 and served the Summit of Francophone Countries. The whole project will be finished within 18 months.
Madagascar and CRBC will jointly operate the project upon completion.
The project is the first to receive preferential buyer credit from China. It is also the first framework project between the two countries in the past decade, and the first infrastructure project which will be built and operated by a Chinese enterprise. The project will greatly alleviate traffic pressure in the country's capital area and boost the development of its tourism industry.