After Congo in January 2011, it’s Chad’s turn to join the Fonds Africain de Garantie et de Coopération Economique (FAGACE).
The 14th country to join the Fund, the Republic of Chad has subscribed for a total of 5 billion FCFA (9.7 million dollars), with a membership premium of 437.5 million FCFA (858 thousand dollars). With a number of satisfactory results already to its credit, thanks to the reforms undertaken since November 2009, FAGACE has just taken another step forward in its mission to promote the economic and social development of the African continent, with the accession of Chad. As part of the policy of openness implemented by the General Management, this membership should enable the country’s various public and private economic operators to benefit from downstream interventions, interest rate improvement, equity investment and direct financing. All of this, of course, with the aim of carrying out development projects and creating more jobs for young people, thus alleviating unemployment problems.
On the cooperative front, with the number of CEMAC states and FAGACE members increased to four, the Fund is now a major financial tool for regional integration, helping to strengthen cooperative relations between the WAEMU and CEMAC regional blocs. Today, FAGACE is made up of fourteen members, namely Benin, Burkina Faso, Cameroon, CAR, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal, Chad and Togo.
Member countries : Chad
