On the sidelines of the 2nd edition of the forum of the Arab Bank for Economic Development in Africa (BADEA) on trade between Arab and African countries called “Africa-Arab Trade Forum” in Cairo, Egypt Dr. Ngueto Tiraina YAMBAYE, Director General of the Fund African Guarantee and Economic Cooperation (FAGACE) and the Chairman of the Board of Directors (PCA) of the Arab Bank for Economic Development in Africa (BADEA) Dr. Fahad Abdullah Aldossari proceeded on Wednesday, November 3, 2021 to the signing of a cooperation agreement.
This agreement is part of the strategy of mobilizing financial partners for the benefit of FAGACE member states, driven by Mr. Ngueto T. YAMBAYE. Because, to build sustainable markets, quality technical assistance and appropriate financial support are necessary.
To this end, throughout the region where they operate, FAGACE and BADEA will develop a synergy of actions which will allow a strong complementarity of intervention at the level of these countries in order to stimulate the development of entrepreneurial initiatives in Africa.
As a reminder, the African Guarantee and Economic Cooperation Fund (FAGACE), is an International Financial Institution specializing in the promotion of public and private investments. It was created on February 10, 1977 in Kigali, Rwanda and has its headquarters in Cotonou, Benin. The Arab Bank for Economic Development in Africa (BADEA), for its part, was created in accordance with the resolution of the Sixth Arab Summit Conference, held in Algiers on November 28, 1973 and began its activities in March 1975. Its permanent headquarters is in Khartoum capital of the Republic of Sudan. It should be noted that the second edition of the Arab Bank for Economic Development in Africa (BADEA) forum on trade between Arab and African countries was launched on November 2, 2021 in Cairo by Dr. Sidi Ould Tah, Director General of the ‘institution.
