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The Board of Directors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) met at its headquarters in Cotonou, on the occasion of its 49th ordinary session, on Friday, December 15, 2017, under the chairmanship of Mr. Limam Ould GOHY, Administrator of the Islamic Republic of Mauritania, current Chairman.
All the Fund’s member states took part in this session. They were Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo.
After approving the minutes of its 48th ordinary session held in Abidjan, Côte d’Ivoire, on September 28, 2017, the Council examined the dossiers on its agenda.
At the end of the proceedings, important decisions were taken, including:
- adoption of the 2018 budget;
- adoption of staff regulations and rules, internal regulations and code of ethics;
- approval of the Fund’s endorsement of the 6.5% 2017-2024 public bond issue for SENELEC of Senegal;
- approval of the guarantee policy and ceilings of the competent bodies;
- setting up the evaluation committee ;
- the adoption of the Fund’s new organization chart.
By adopting these decisions, the Board of Directors is demonstrating its determination to support the implementation of the 2017-2020 Strategic Plan, thereby strengthening FAGACE’s intervention capacities and relaunching its operational activities.
In closing the proceedings, Chairman Limam Ould GOHY, on behalf of the Board of Directors, expressed his deep gratitude to His Excellency, Mr. Patrice TALON, President of the Republic of Benin, Head of State, for his commitment to FAGACE.
He then thanked the Beninese authorities for the warm and fraternal welcome extended to the Directors, which enabled this session to be held in the best possible conditions.
Cotonou, December 15, 2017.
On behalf of the Board of Directors,
The Chairman
Limam Ould GOHY
