The Managing Director of the African Guarantee and Economic Cooperation Fund, Mr Henri-Marie DONDRA and Dr Uzziel NDAGIJIMANA, Secretary of State in charge of Economic Planning officially opened the FAGACE offices in Kigali this Thursday, March 24, 2016. The office is located in the RSSB building on the 4th floor of Tower B in Kigali.<\/p>\n
Placed under the sign of strengthening cooperation between the Fund and the Republic of Rwanda, the opening ceremony of the FAGACE office recorded the presence of many economic partners and Political Authorities of the country.<\/p>\n
As a development institution, FAGACE is fully in line with the efforts made by the Government of Rwanda to encourage and support the development of the country’s economic activities, with a view to achieving inclusive growth, particularly in the priority sectors of agriculture, industry and services.<\/p>\n
The African Guarantee and Economic Cooperation Fund is an international financial institution created on February 10, 1977 in Kigali by the OCAM Heads of State Conference. Specializing in the promotion of public and private investment, 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, C\u00f4te d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo.<\/p>\n
Since its creation, FAGACE has made a significant contribution to the socio-economic development of member states, notably through its guarantee operations, direct financing, equity investments and interest-rate subsidies. The Fund’s operations have mobilized more than 1,920 billion francs in financing for economic operators in member countries.<\/p>\n
This official opening marks a decisive turning point in relations between the Fund and the Republic of Rwanda. Through this new office, the Fund’s main objective is not only to strengthen cooperation with the Government, but also to better respond to the essential needs of Rwandan economic operators in order to accelerate the implementation of development projects, and to deepen dialogue with the private sector, civil society and other technical and financial partners.<\/p>\n
To date, FAGACE’s subsidy operations have mobilized more than 192,578,560,000 Rwandan francs in the local economy. In addition, in partnership with BRD, the Fund’s guarantees for Rwandan projects have mobilized 3,230,720,000 Rwandan francs in the country’s economy, in particular for the creation of a fruit and vegetable processing unit by SIAB S.A., the establishment of a tire retreading unit by ALex Pneu Intertrade tyre and the establishment of a plastic shoe manufacturing plant by Kataplast industries.<\/p>\n
The decentralization of the Fund’s activities in Rwanda will undoubtedly enhance the quality of its support to the country.<\/p>\n
On the bangs of the opening ceremony, a symposium on intervention mechanisms and cooperation prospects was held at the Serena Hotel. The symposium was attended by representatives of financial institutions, banks, insurance companies and private-sector economic operators.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Managing Director of the African Guarantee and Economic Cooperation Fund, Mr Henri-Marie DONDRA and Dr Uzziel NDAGIJIMANA, Secretary of State in charge of Economic Planning officially opened the FAGACE offices in Kigali on Thursday, March 24, 2016.<\/p>\n","protected":false},"author":1,"featured_media":10860,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[51],"tags":[],"class_list":["post-10859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualites-du-fagace"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"en","enabled_languages":["fr","en","ar","pt"],"languages":{"fr":{"title":true,"content":true,"excerpt":true},"en":{"title":true,"content":true,"excerpt":true},"ar":{"title":false,"content":false,"excerpt":false},"pt":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"\n