FAGACE PROVIDES AN ANSWER TO FINANCING THE BURKINABE ECONOMY
A mission from the African Guarantee and Economic Cooperation Fund (FAGACE) has been in Burkina Faso since August 9, 2021, as part of consultations with FAGACE member states and which aims to strengthen the interventions of the Guarantee Institution in Burkina Faso.
On this occasion, the delegation led by Mr. Nguéto Tiraïna YAMBAYE, Director General of FAGACE was received in audience on Wednesday August 11, 2021 by the Head of State, His Excellency Mr. Roch Marc Christian KABORE, President of the Republic, Head of the State, in the presence of the Minister of Economy, Finance and Development, Mr. Lassané KABORE.
The discussions focused on FAGACE’s new five-year strategic plan. On this occasion, the Head of State gave guidelines to the Director General for better coordination of actions to serve the economies of the Member States and Burkina Faso in particular.
This meeting was also an opportunity for the Director General of FAGACE to reaffirm his desire to see FAGACE, in collaboration with other partners, strengthen its role as a concrete solution to financing the country’s development, particularly through its participation. National Development Plan because Burkina Faso is full of immense potential, and its productive investment projects should benefit more than ever from the synergistic actions of development financial institutions.
In this context, the President of the Republic was also informed of the various meetings planned during the mission with the main development stakeholders: political-economic authorities, local financial institutions, economic operators, in order to converge efforts to boost the financing of the Burkinabe economy, particularly through the risk sharing mechanisms proposed by FAGACE.
At the end of the discussions, the President of the Republic greeted the Mission and thanked Mr. Nguéto Tiraïna YAMBAYE for FAGACE’s initiatives in favor of Burkina Faso. Discussions will continue to deepen the dialogue on the various subjects.
As a reminder, the African Guarantee and Economic Cooperation Fund is an international financial institution specializing in the promotion of public and private investments and contributes to the economic and social development of its fourteen (14) member states.
Thanks to its various interventions in guarantees, direct financing, equity participation and interest rate subsidies in particular, FAGACE has made it possible to mobilize more than 2,500 billion CFA francs for the benefit of the economies of member states, including around 90 billion mobilized for the benefit of Burkina Faso.
