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As part of the diversification of the Fund’s activities, on Wednesday, October 28, 2015, the Managing Director, Mr Henri Marie DONDRA, signed a tripartite contract bonding agreement with the LES BAGNOLES company, represented by its Chairman of the Board of Directors, Mr Valery ALAPINI, and the Benin Ministry of Finance and Denationalization Programs, represented by Mr Thomas AZANDOSSESSI, Secretary General of the Ministry of the Economy and Finance, Head of Public Procurement, acting in his capacity as representative of the State of Benin.<\/p>\n
The purpose of this agreement, worth 1.2 billion CFA francs, is to provide LES BAGNOLES with a start-up advance guarantee line, which should enable the promoter to mobilize the financial resources needed to fulfill its contracts with the Beninese government.<\/p>\n
Les Bagnoles SA is a limited company, created in 2010, based in Cotonou, Benin. Its purpose is the sale and rental of motor vehicles, tourism, hotels, restaurants and various services.<\/p>\n
Ultimately, this agreement will enable the Beninese government to acquire 156 vehicles to renew the fleet of several public administrations.<\/p>\n
Through this first market bonding operation, FAGACE is positioning itself as a dynamic institution in tune with the increasingly specific needs of its member states and their economic operators.<\/p>\n
On the sidelines of the ceremony, a guarantee agreement was also signed between Mr Mathieu BAH, Managing Director of MB GROUPE SARL and FAGACE.<\/p>\n
MB GROUPE SARL has applied to FAGACE for a partial guarantee for financing of 600 million FCFA to complete the finishing work on a building destined to house a hotel complex in the Ouelinda district of Porto-Novo.<\/p>\n
Under the terms of this guarantee agreement for 300 million CFA francs, i.e. 50% of the loan raised, the Fund is enabling MB GROUPE SARL to access financing of 600 million CFA francs from DIAMOND BANK in Benin, in order to complete the finishing work on the hotel and bring it into operation.<\/p>\n
The aim of the project is to provide a high-standard hotel space for tourists visiting Benin.<\/p>\n
These new agreements bring to 45 the number of projects benefiting from the Fund’s interventions in Benin, for a total of 36.5 billion in guarantees and 1.2 billion in market sureties.<\/p>\n","protected":false},"excerpt":{"rendered":"
As part of the diversification of the Fund’s activities, on Wednesday, October 28, 2015, the Managing Director, Mr Henri Marie DONDRA, signed a tripartite contract bonding agreement with the LES BAGNOLES company, represented by its Chairman of the…<\/p>\n","protected":false},"author":1,"featured_media":10940,"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-10938","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