Mutual Aid and Loan Guaranty Fund of the Entente Council (EC-Fund)

Fonds d'entraide et de garantie des emprunts du Conseil de l'entente (FEGECE)

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History

9 June 1966, Abidjan (Côte d'Ivoire), by Heads of State of Entente Council (CE), superseding Solidarity Fund -- Fonds de solidarité established by the same agreement which created the Council. Statutes modified 8 Dec 1973.

Aims

Extend political cooperation of the Entente Council to the economic and financial sphere; promote economic development and integration of the region; assist national organizations in preparing specific projects in the economic field and in obtaining assistance from donor organizations; provide guarantees to encourage investment in member states; assist member states most economically underprivileged whether as a result of geographical situation or of disasters and natural calamities; encourage increased trade, commerce and investment between Entente countries and neighbouring states.

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Activities

'Guarantees': The Fund guarantees agreed loans for economic operations of private and mixed economy enterprises, state companies, local collectives and governments and takes a small commission on this guarantee. Total guarantees to 31 Dec 1998: CFA Fr 33,256 million. 'Endowments' Following decisions of Nov 1983, Yamoussoukro, and Nov 1984, Lomé (Togo), the Fund no longer funds projects directly. Instead it makes endowments to the state concerned; it increasingly seeks external financing for projects in member states. Total endowments to 31 Dec 1998: CFA Fr 34,960 million. 'Loans and Subventions': The Fund has longstanding links with external aid agencies which provide finance for projects. 'Development Programmes': Rural development, including regional food production and village irrigation using upgraded subterranean water supplies; Village water pumps; Assistance to African enterprises; Tourism development.

Structure

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Languages

French.

Staff

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Financing

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Relations with Inter-Governmental Organizations

Relations with 14 inter-governmental organizations.
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Relations with Non-Governmental Organizations

Relations with 1 non-governmental organizations.
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Publications

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Members

Members in 5 countries
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Type I Classification

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Type II Classification

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Subjects *

  • Commerce
    • Finance
    • Funds
    • Credit
  • Research, Standards
    • Certification
  • Law
    • Agreements
  • Economics
    • Economic
  • Development
    • Aid

UN Sustainable Development Goals **

GOAL 8: Decent Work and Economic GrowthGOAL 10: Reduced InequalityGOAL 16: Peace and Justice Strong Institutions

UIA Org ID

F4252

Last News Received

2006
* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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