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African Solidarity Fund
The African Solidarity Fund (ASF), also known by its French name and acronym (Fonds de Solidarité Africain, FSA), is a multilateral, financial guarantee institution based in Niamey, Niger. Currently it has 23 member states. The purpose of the ASF is to contribute to the economic and social development of its regional member states by facilitating access to credit for states and public and private enterprises in its area of operation, to finance productive investment projects, and to mobilize local and external savings, in particular by providing loan guarantees on the financial markets. Historic overview The Agreement establishing the African Solidarity Fund was adopted by the National Assembly of France and signed in Paris on 21 December 1976. The purpose of the ASF at that time was to facilitate the economic development of the participating African States - mainly States most disadvantaged by structural factors - by contributing to the financing of investment projects of particul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guarantee
A guarantee is a form of transaction in which one person, to obtain some trust, confidence or credit for another, agrees to be answerable for them. It may also designate a treaty through which claims, rights or possessions are secured. It is to be differentiated from the colloquial "personal guarantee" in that a guarantee is a legal concept which produces an economic effect. A personal guarantee, by contrast, is often used to refer to a promise made by an individual which is supported by, or assured through, the word of the individual. In the same way, a guarantee produces a legal effect wherein one party affirms the promise of another (usually to pay) by promising to themselves pay if default occurs. In legal terminology, the giver of a guarantee is called the surety or the "guarantor". The person to whom the guarantee is given is the creditor or the "obligee"; while the person whose payment or performance is secured thereby is termed "the obligor", "the principal debtor", or s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |