The Board of Directors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) met in Cotonou for its 44th ordinary session on February 17, 2016 at the Institution’s headquarters in Cotonou, under the chairmanship of Mr. Badawasso T. GNARO, Secretary General of the Ministry of Economy, Finance and Planning of the Togolese Republic.
The Directors of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Rwanda, Senegal and Togo were represented at this session.
After approving the minutes of its 43rd meeting held on December 16, 2015 in Lomé, the Board examined the dossiers on its agenda.
At the close of the proceedings, the Board decided to:
- recommend to the Board of Governors for adoption the 2016-2020 Strategic Plan presented by General Management,
- adopt the Performance Agreement between Executive Management and the Board of Directors,
- to authorize a line of credit with Société Islamique de Développement (SID) on the terms agreed by the parties.
In closing the proceedings, Chairman Badawasso T. GNARO, on behalf of the Board of Directors, expressed his deep gratitude to His Excellency Dr. Thomas Boni YAYI, President of the Republic of Benin and Head of State, for his commitment to African development institutions, and in particular for his support for FAGACE.
He then thanked the Beninese authorities for the warm and fraternal welcome extended to the Directors, as well as for the material and organizational arrangements that had enabled this session to be held in the best possible conditions.
