In an interview with Sidwaya, Dr. Ngueto Tiraïna Yambaye, new Director General (DG) of the African Guarantee and Economic Cooperation Fund (FAGACE) takes stock of his mission and lifts a corner of the veil on the evils that undermine the financing of African economies. His vision is to make FAGACE a modern institution that fully contributes to the financial integration of Africa.

Former Minister of Economy, Planning and Development of Chad and former IMF Administrator for Africa, Dr. Ngueto Tiraïna Yambaye has been leading FAGACE since July 1, 2020. According to his assessment, FAGACE's interventions have made it possible to mobilize to date more than 2,500 billion CFA francs for the benefit of its member states, particularly in the strategic sectors of agriculture, agro-industry, transport, industry and energy. “This level is appreciable, but needs to be reinforced in the face of the increasingly greater needs of the Member States' economies. FAGACE, by working with the banking and financial sector, contributes, as I said, to increasing the rate of banking in African economies,” he said.

The Board of Governors of FAGACE adopted in February 2021, a new Strategic Plan for our institution. This new 2021-2025 strategic plan, called "The New Momentum", is based on the modernization of the Fund, the strengthening of governance, the strengthening of the institution's own funds, the development of operational activities and the intensification of cooperation with the Member States, opening up to private capital and to new States, with a view to positioning FAGACE as a strategic development partner in Africa. In this context, the fund intends to make local interventions in its Member States in order to support the financing of investments and thus meet the challenges of growth and employment. “This will notably involve multifaceted support in the context of the financing of projects such as public projects, PPPs, the private sector, diversified interventions which will be increased to meet the needs of the economies. To do this, the banks being at the heart of the fund's operational system, the new partnership with the banks is based on a frank commitment by FAGACE and a review of the operating methods", informs the CEO, who specifies that this results in a communication regular financial.