The Government of Cameroon, represented by the Minister of External Relations, Professor Pierre Moukoko Mbonjo and Mr. Henri-Marie DONDRA, Managing Director of FAGACE, proceeded, this Tuesday, June 23, 2015 to the signing of the Headquarters Agreement of the Fund, in view of the official installation of the FAGACE Regional Representation office, in Central Africa, in Cameroon.
The ceremony took place in the Salle d’Apparat of the Ministry of External Relations, in the presence of a strong Government delegation.
The signing of the headquarters agreement for the official opening of a FAGACE Regional Office in Cameroon reflects the Fund’s determination to strengthen its operations in Central Africa. Cameroon was chosen because of its economic and demographic weight, as well as its strategic geographical position at the heart of the CEMAC zone.
In addition to improving the implementation of projects financed by the Fund in Cameroon, Congo, Chad and the Central African Republic, this agreement will contribute to strengthening dialogue with decision-makers and mobilizing additional resources for the sub-region”, said FAGACE Managing Director Henri-Marie DONDRA, emphasizing that the financial institution “is keen to participate in building the sub-region.
The Minister of External Relations, Professor Pierre Moukoko Mbonjo, also welcomed the agreement, before expressing the Government’s gratitude to FAGACE and its Managing Director.
Since 2007, FAGACE has been one of Cameroon’s development partners. Its interventions in the country have mobilized over 73 billion FCFA for fifteen (15) projects, notably in priority sectors such as agriculture, industry and energy.
The African Guarantee and Economic Cooperation Fund is an international financial institution specialized in promoting public and private investment. Created in 1977, it contributes to the economic and social development of its fourteen (14) member states: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo.
On the sidelines of this ceremony, a cooperation agreement was signed between the Bureau de Mise à Niveau des Entreprises Camerounaises (BMN) and FAGACE, on June 23, 2015 at the BMN premises. Through this agreement, the two institutions undertake to pool their expertise to support the development of Cameroonian SME projects.
Thanks to the Fund’s intervention mechanisms, this partnership will make it possible to provide relevant solutions to the financing needs of BMN’s 600 partner companies under the first phase of the National Upgrading Program (PNMAN) implementation program.
The Bureau de Mise à Niveau des Entreprises (BMN) is part of the Ministry of the Economy and is headed by Chantal Elombat, with whom this agreement was signed.
