On November 08, 2016 at the FAGACE headquarters in Cotonou, the signing ceremony of a credit guarantee agreement with the Banque Sahel-Saharienne pour l’Investissement et le Commerce (BSIC BENIN SA) was held in the presence of Mr. Thierno Mamoudou DIALLO, Managing Director of the Bank and Ms. Mawèkouta AISSAH ABOU, Managing Director of the Fund.
The project in question involves the acquisition and operation of a three-star hotel complex in the Cotonou business district of Benin, for which BSIC has provided 1 billion CFA francs in financing, 50% of which has been endorsed by FAGACE.
In addition, this agreement is part of the drive to strengthen Benin’s hotel capacities, a real lever for the development of tourism, an industry that generates wealth and creates jobs in the country.
Through this signature, the two institutions express their willingness to synergize their efforts to promote structuring projects that can contribute to the country’s economic development.
Finally, it should be noted that this new endorsement brings the total level of the Fund’s guarantee interventions to 330,243 billion FCFA.
