The Fonds Africain de Garantie et de Coopération Economique is an international financial institution specializing in investment promotion. It contributes to the economic and social development of its member states, and currently comprises fourteen (14) countries: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo. Since its creation in 1977, FAGACE has made a significant contribution to the socio-economic development of its member states, notably through guarantees, equity investments and interest-rate subsidies. The Fund’s operations have mobilized more than 1,500 billion CFA francs in financing for economic operators in member countries.
As part of the ongoing improvement of its operations on behalf of member states, FAGACE is taking steps to diversify its resources through partnerships and to develop its expertise.
The cooperation agreement between SNV and FAGACE is part of this dynamic.
SNV, the Netherlands Development Organization, is an international non-profit development organization founded in the Netherlands in 1965. Its mission is to provide advice and expertise to strengthen the capacities of intermediary organizations within the framework of good governance, sustainable development and the fight against gender-specific poverty. To achieve its objectives, it has opened local and regional offices in 38 of the poorest countries in Asia, Africa and Latin America.
As part of this agreement, the two institutions have decided to pool their expertise and experience throughout the region in which they operate, in order to develop synergistic projects in the fields of energy, in particular renewable energies, agri-business, water, sanitation and hygiene.
The main areas of cooperation defined are: energy, agriculture, water and sanitation.
By sharing its specialist expertise in these sectors, SNV will provide the Fund with technical assistance in resource mobilization, project monitoring and the exchange of relevant information.
In return, SNV will not only be able to expand its activities in Africa, in the Fund’s fourteen member countries, but also strengthen its collaboration with the other sub-regional organizations with which the Fund operates.
This partnership is a complementary tool for managing project risks, strengthening the Fund’s interventions in favor of member countries, and sharing knowledge on follow-up financing mechanisms.
This cooperation agreement between FAGACE and SNV is the first step towards a global partnership between the Dutch institutions and FAGACE, who share the same vision: to support Africa’s development.
