FAGACE Board of Governors: 1st session opens for business
The 1st ordinary session of the Board of Governors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) got underway yesterday at the institution’s headquarters in Cotonou, under the chairmanship of the representative of the Chairman of the Board of Governors, Pierre TITI. The session will examine, among other things, the financial statements for the various financial years.
From 39 billion CFA francs in 2002, the volume of commitments of the African Guarantee and Economic Cooperation Fund (Fagace) rose to 270 billion in 2007. This means that the institution has mobilized more than 1,000 billion F CFA for over 250 projects in several sectors. Following the 29th budget session of the Board of Directors, which ended last Wednesday, Fagace opened its 1st Board of Governors session yesterday.
Marie-Louise B. Matchoudo
Member countries : Benin
