Since 13 February 2023, a mission from the African Guarantee and Economic Cooperation Fund (FAGACE) has been operating in Mauritania. It is led by its managing director, the Chadian NGueto Tiraina Yambaye.

The mission of FAGACE aims to explore, with banks and credit institutions, ways and means to increase its interventions in Mauritania, a country that has been a member of the fund since 2010. To do this, an exchange session took place on Tuesday, February 14, 2023 with Mauritanian private banks and credit institutions. The session was based on the theme “FAGACE's contribution to the financing of the Mauritanian economy, what role for FAGACE”. It focused on the Fund's new guidelines, its operating methods, its flagship products, and the sharing of risks between banks and guarantors, particularly in the context of financing SMEs/SMIs and structuring projects in Mauritania. As we know, SMEs/SMIs constitute 80% of the economic fabric in Africa.

Fagace has 14 African countries including Benin, Burkina Faso, the Central African Republic, Ivory Coast, Niger, Rwanda, Senegal, and Togo.