Members of the Government, Dear Colleagues,
Mr. Managing Director of the Fonds Africain de Garantie et de Coopération Economique (FAGACE),
Members of the Diplomatic Corps and Heads of International Organizations accredited to Cameroon,
Mr. Secretary General of the Ministry of External Relations,
Ladies and Gentlemen of the Ministry of External Relations,
Ladies and Gentlemen of FAGACE,
Distinguished guests,
Ladies and Gentlemen,
It gives me great pleasure today to welcome to the Ministry of External Relations, Mr. Henri-Marie DONDRA, Managing Director of the African Guarantee and Economic Cooperation Fund (FAGACE), and the delegation accompanying him, on the occasion of this solemn signing ceremony of the Headquarters Agreement between the Government of the Republic of Cameroon and FAGACE.
Mr. General Manager, allow me also to seize this happy occasion to extend to you the congratulations of the Government of Cameroon, to which I add my own, on the occasion of your brilliant re-election, last June 03 in Cotonou, for a new mandate of four (4) years, to the functions of General Manager of FAGACE. This mark of confidence from the member states is, without a doubt, a source of pride and satisfaction not only for your country, the Central African Republic, but also for the sister countries of the Central African sub-region, including Cameroon.
Mr. General Manager,
Ladies and Gentlemen,
The existing cooperative relationship between the Government of Cameroon and FAGACE, although very recent, is, in my view, very satisfactory.
Indeed, it was only some twenty years after its creation that the Republic of Cameroon agreed to adhere to the FAGACE Statutes, on April 10, 2006. In almost ten years of cooperation, the fruits of this collaboration have not been long in coming: the Fund’s interventions have mobilized over 73 billion CFA francs for development projects in Cameroon, benefiting companies such as BIOPHARMA in the pharmaceutical industry, SPM in the agricultural sector, PETROLEX in the energy sector and others. What’s more, just one year after joining, Cameroon was honored with the offer to host the headquarters of FAGACE’s Central Africa Regional Representation.
For this mark of trust and friendship, as well as for the quality of FAGACE’s interventions, the Cameroonian Government, through me, is grateful and takes this opportunity to renew its gratitude and to unveil its expectations for the future.
Mr. Managing Director,
Members of the Government,
Ladies and Gentlemen,
As you all know, the Head of State, H.E. Paul BIYA, has committed the Government and people of Cameroon to a vast project to develop our country, with a view to achieving Emergence by 2035. The realization of this ambitious project requires the development of promising sectors such as energy, mining, transport, infrastructure, agriculture and others. To bring these major projects to fruition, the Government and Cameroon’s partners would like to be able to rely more, or at least more than in the past, on strategic partners such as FAGACE, which over the years has consolidated and strengthened its intervention capacity, credibility and signature quality in the regional and international financial arena.
It is with the aim of taking this cooperation to even greater heights, and enabling FAGACE to fully play its role of supporting the Public Authorities in the implementation of their development programs, that the Head of State, H.E. Paul BIYA, has, I am convinced, given his Very High Approval for the signature of this Headquarters Agreement.
This agreement provides FAGACE with a preferential legal framework entitling it to privileges and immunities comparable to those enjoyed by international organizations of the same kind, notably immunity from jurisdiction, inviolability of its premises, communication facilities and various services, exemption from taxes and customs duties and, for its officials, the privileges and immunities necessary for the independent exercise of their functions.
I have no doubt, therefore, that this legal framework, which in many respects derogates from ordinary law, will enable this pan-African financial institution to carry out its missions and activities in support of the governments of the sub-region in the protection and promotion of public and private investments.
In carrying out this ambitious project, FAGACE will always find all the support and assistance it needs from the Ministry of External Relations, and I have no doubt from other partner administrations, including the Ministry of Finance.
Thank you for your kind attention.
