On the agenda for the 37th Ordinary Session of the Board of Directors were requests to support development projects in Cameroon, Togo and Mauritania.
Three years ago, the Fund’s operational activities were at a standstill. It was then that Mr. HENRI-MARIE J. DONDRA, of Central African nationality, at the time FAGACE’s Regional Representative for CEMAC, was called in to relaunch the institution and strengthen partner confidence.
After three years of hard work, several tangible results have been achieved by our compatriot and the team accompanying him in his daily tasks.<\/p>\n
The restoration of the Institution’s finances, the rebalancing of its financial situation, the resolution of the social crisis that erupted in 2009, the increase in share capital from 100 to 200 billion FCFA, the mobilization of new resources, the accession of new member states (Congo, Chad), the various organizational reforms approved and implemented, the return to positive results since 2010, improved partnership relations with International Financial Institutions and the adoption of a 2012-2015 four-year plan to serve as the institution’s compass are all perceptible elements to be credited to the current management team.<\/p>\n
Added to this list is the effective resumption of operations.
Indeed, after the State of Benin, which, through its Ministry of Economy and Finance, benefited from an interest-rate subsidy intervention in 2011, the companies BIOPHARMA and GSA in Cameroon and POMAR in TOGO, which benefited from downstream interventions during 2011 to mid-2012, several other projects have just benefited from FAGACE support.<\/p>\n
Downstream, four (04) projects initiated in Mauritania, Cameroon and Togo have just benefited from an intervention of the Fund for a total amount of 12,302,000,000 FCFA. In terms of interest rate subsidies, the Islamic Republic of Mauritania has benefited from a grant of 492,187,500 for the construction of a high-voltage power line expected to cost around 50 billion FCFA between the political capital Nouakchott and the economic capital Nouadhibou.
With these new interventions, it is safe to say that the Fund’s operational activities have been effectively relaunched, earning the satisfaction of the Board of Directors for the efforts made by the management team led by Mr. Henri Marie DONDRA.<\/p>\n","protected":false},"excerpt":{"rendered":"
On the agenda of the 37th Ordinary Session of the Board of Directors were requests to support development projects in Cameroon, Togo and Mauritania…<\/p>\n","protected":false},"author":1,"featured_media":0,"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-11559","post","type-post","status-publish","format-standard","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