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FAGACE strikes partnership with four banks to boost the financing of projects in Chad

The Secretary of State for Finance and Budget, Alixe Naimbaye, made a statement marking the end of the mission of the African Guarantee Fund and Economic Cooperation (FAGACE) on Saturday 11 September.

Led by Emmanuelle MIGAN, Regional Representative for Central Africa, the delegation of Fagace stayed in N’Djamena from September 4 to 13, 2020. This trip is part of the Fund’s promotional days in its member states and aims to strengthen the presence and interventions of the Guarantee Institution in Chad. The delegation carried out three major activities.

There were meetings with the main actors in economic development in order to make Fagace, its role and its operating mechanisms known, bilateral meetings with local banks, hearings with the Chadian authorities.

The objective of this mission is to become immersed in the realities of project leaders and to initiate them in the mechanisms of access to adequate financing in connection with the products of the Fund.

“Since the banks are at the heart of the Fund’s Guarantee implementation mechanism, bilateral meetings have taken place in particular with the BSIC, BCC, UBA, CBT, ECOBANK, ORABANK in order to develop synergies to boost the financing of projects productive investments.” Alixe Naimbaye, Secretary of State for Finance and Budget and Head of FAGACE said.

To this end, partnership agreements were signed to mark the launch of a new and more fruitful cooperation. FAGACE now has four partner banks in Chad: BSIC, ORABANK, CBT and BCC. The signing process is continuing with two other banks.

The mission appreciated the constructive participation of the partners of the banking and financial system of Chad, the economic operators for their contribution to the success of the mission.