The Board of Directors of the African Guarantee and Economic Cooperation Fund (FAGACE) met in Cotonou on the occasion of its 47th ordinary session on Friday, March 31, 2017, at the Institution’s headquarters in Cotonou, under the chairmanship of Mr. Papa Amadou SARR, Technical Advisor to the Minister of Economy, Finance and Planning of the Republic of Senegal, 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 46th ordinary session held in Saly, Senegal, on December 07 and 08, 2016, the Board examined the dossiers on its agenda.
At the end of the proceedings, a number of important decisions were taken, including :
- approval of the Fund’s financial statements as at December 31, 2016 submitted for adoption by the Board of Governors,
- adoption of the 2017 budget,
- authorization to implement a framework partnership agreement with member state banks.
In closing the proceedings, Chairman Papa Amadou SARR, on behalf of the Board of Directors, expressed his deep gratitude to His Excellency President Patrice TALON, President of the Republic of Benin and Head of State, for his commitment to FAGACE.
He then thanked the Beninese authorities for the warm and fraternal welcome extended to the Directors, and for all the facilities that had enabled this session to be held in the best possible conditions.
