8th ORDINARY SESSION OF THE GOVERNORS’ COUNCIL<\/p>\n
Lom\u00e9 – July 22, 2016<\/p>\n
_____________<\/p>\n
PRESS RELEASE<\/strong><\/p>\n The Board of Governors of the Fonds Africain de Garantie et de Coop\u00e9ration Economique (FAGACE) held its 8th ordinary session on Friday, July 22, 2016 at the Radisson Blu Hotel in Lom\u00e9, under the chairmanship of Mr Adji Ot\u00e8th AYASSOR, Minister of State, Minister of Economy, Finance and Development Planning of the Togolese Republic, current Chairman.<\/p>\n The Governors of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, C\u00f4te d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo were represented at this session.<\/p>\n The 8th ordinary session of the Board of Governors was preceded by the 45th session of the Board of Directors held on June 30, 2016, which submitted its report to the Board.<\/p>\n In examining the items on its agenda, the Board of Governors paid particular attention to the aforementioned report. It took note of the results of the Board’s work, which included approval of the following projects:<\/p>\n Downstream :<\/p>\n With these new commitments, the Fund’s interventions total CFA 329,743 million in guarantees, CFA 7,300 million in direct financing, CFA 8,209 million in subsidies and CFA 1,165 million in equity investments.<\/p>\n 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 a number of important decisions, including the following:<\/p>\n With the adoption of these decisions, the Board of Governors reiterates its determination to further support the strengthening of the Fund’s intervention capacities, to enable it to fully play its role as a development instrument for the benefit of member countries’ economies.<\/p>\n Lastly, the Presidency of the Board of Governors has been entrusted to the Republic of Senegal, Togo’s term having expired.<\/p>\n At the close of its proceedings, which took place in an atmosphere of frank cordiality, the Board of Governors unanimously expressed its deep gratitude to His Excellency Essozimna Faure GNASSINGBE, President of the Republic, Head of State, to the Government and People of Togo, for the warm welcome and all-African hospitality extended to its members, and for all the facilities made available to ensure the smooth running and success of its meetings.<\/p>\n Lom\u00e9, July 22, 2016.<\/p>\n The Chairman of the session,<\/p>\n Adji Ot\u00e8th AYASSOR<\/em><\/strong><\/p>\n Minister of State, Minister of the Economy, Finance and Industry<\/p>\n Finance and Development Planning<\/p>\n of the Togolese Republic<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The Board of Governors of the Fonds Africain de Garantie et de Coop\u00e9ration Economique (FAGACE) held its 8th ordinary session on Friday, July 22, 2016 in …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[60],"tags":[],"class_list":["post-14355","post","type-post","status-publish","format-standard","hentry","category-communiques-de-presse"],"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":true,"content":true,"excerpt":true},"pt":{"title":true,"content":true,"excerpt":true}}},"yoast_head":"\n\n
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