The Board of Governors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) held its 9th ordinary session on Friday, September 29, 2017 at the conference room of the Direction Générale du Trésor of the Republic of Côte d’Ivoire, under the chairmanship of Mr. Amadou BA, Minister of Economy, Finance and Planning of the Republic of Senegal, current Chairman.
The Governors of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Mali, Mauritania, Niger, Rwanda, Senegal and Togo were also represented.
The 9th ordinary session of the Board of Governors was preceded by the 48th session of the Board of Directors held on September 28, 2017, which submitted its report to the Board.
In examining the items on its agenda, the Board of Governors paid particular attention to the said report. It thus took note of the results of the work of the Board of Directors, which approved, among other things:
- the 2016 activity report,
- the status of undisbursed approvals,
- the establishment of the Ad’hoc Committee in charge of recasting the Fund’s basic texts,
the financial situation at June 30, 2017.
After examining the report’s conclusions and recommendations, the Board of Governors congratulated the members of the Board of Directors on the qualitative results achieved. It then took important decisions including:
- the adoption of the financial statements for fiscal 2016 and the Statutory Auditors’ reports to December 31, 2016,
- adoption of the Fund’s Strategic Plan,
- appointment of the Statutory Auditors,
- election of the officers of the Board of Governors.
With these decisions, the Board of Governors undertakes to support the Fund’s relaunch through the strengthening of its equity, the reorganization of its portfolio, the restoration and intensification of cooperative relations with financial partners and, in general, the strategic reorientation of the Institution with a view to making it more efficient so as to enable it to fully play its role for the benefit of the economies of member states.
Finally, the Presidency of the Board of Governors has been entrusted to the Islamic Republic of Mauritania, as Senegal’s term of office has come to an end.
At the close of its proceedings, which took place in an atmosphere of frank cordiality, the Board of Governors, unanimously, expresses to His Excellency Mr. Alassane OUATTARA, President of the Republic of Côte d’Ivoire, to the Government and People of Côte d’Ivoire, its deep gratitude for the warm welcome and all-African hospitality reserved for its members as well as for all the facilities made available to it with a view to the smooth running and success of its meetings.
Abidjan, September 29, 2017.
The Chairman of the session,
Amadou BA
Minister of the Economy, Finance and Planning
of the Republic of Senegal
