The Board of Directors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) held its 43rd ordinary session on December 16, 2015 in Lomé, TOGO, under the chairmanship of Mr. Badawasso T. GNARO, Secretary General of the Ministry of Economy, Finance and Development Planning of the Togolese Republic, current Chairman.
Directors from Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo were represented at the meeting.
In reviewing the items on its agenda, the Board of Directors approved the following projects, among others:
- SADIPIN – ACI (Cameroon) (3,030 million)
- ASUSU (Niger) (3,750 million)
- NAANGE (Benin) (10,500 million)
With these new commitments, the Fund’s guarantee interventions in 2015 totaled 30.724 billion CFA francs.
After approving the projects on the agenda, the Board of Directors congratulated General Management on the quality of the dossiers submitted, and decided to :
- Adoption of the minutes of the 42nd ordinary meeting of the Board of Directors,
- adoption of the report of the Audit Committee
- adoption of the draft 2016 budget.
By adopting these decisions, the Board of Directors is demonstrating its determination to further support the Fund in its policy of strengthening its intervention capacities and pursuing its operational activities.
At the close of its proceedings, which took place in an atmosphere of frank cordiality, the unanimous Board of Directors extends its warmest thanks to His Excellency, Faure Essozimna GNASSINGBE, President of the Republic of Togo, to the Government and People of Togo, for the welcome extended to its members, and for all the material arrangements made to ensure the success of its meetings.
Lomé, December 17, 2015
The Chairman of the session.
