African Fund for Guarantee and Economic Cooperation
Fonds africain de garantie et de coopération économique (FAGACE)
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1977-02-10 Kigali Rwanda
10 Feb 1977, Kigali (Rwanda), under the title Fonds de garantie et de coopération de l'OCAM, as a joint venture of the then 'Afro-Malagasy Union for Economic Cooperation', subsequently (until its dissolution in 1985), H-XD0324 - African and Mauritian Common Organization. Commenced operations 1981, following ratification of Convention. Also referred to as Guaranty and Cooperation Fund of AMCO.
Contribute to the economic and social development of member states, individually and collectively, either in taking part in the financing of their development projects or in facilitating their achievements through accompanying measures like interest rate subsidy or extension of credit's duration (a special interest is paid to the most economically underprivileged countries, given either to their geographical situation or further to disasters or natural calamities).
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General Assembly of Shareholders. Board of Directors, comprising the Finance Minister of each member state and one representative per member institution. Administrative Council, consisting of 2 Administrators per member state, one Administrator for each non-regional member state and one Administrator per member institution. Director General, elected by the General Assembly of Shareholder, manages the Fund.
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UN Sustainable Development Goals **
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