On Wednesday 15 May, a ceremony was held to sign a memorandum of understanding between the West African Development Bank (BOAD) and the Italian Development Bank, Cassa Depositi e Prestiti (CDP).

The signing of an agreement between BOAD and CDP focuses on the promotion of business opportunities and co-financing strategies, for the benefit of Italian and African companies. The agreement came on the sidelines of the Italy-Africa Inter-Business Dialogue conference, organized by the Italian Ministry of Foreign Affairs and International Cooperation, bringing together several Development Banks and regional financial institutions. According to Serge EKUE, President of the BOAD , “the signing of this Agreement confirms the solid partnership between Old Style”, "serif">BOAD and the CDP. Certainly, the Italy-Africa Inter-Business Dialogue establishes the foundations of a new, more innovative and more efficient cooperation between Africa, and in particular, our area of intervention, the UEMOA

Noted that the BOAD is the joint institution for financing the development of the States of & quot; West African Monetary Union (UMOA). Its purpose is “to promote the balanced development of member states and to achieve the economic integration of West Africa” by financing priority development projects

For its part, Cassa Depositi e Prestiti (CDP) is the Italian Development Bank that was created in 1850 in Turin. It is an Italian public body controlled mainly by the Italian Ministry of Economy and Finance and by various banking foundations. It encourages sustainable development in Italy, using savings responsibly to support growth and stimulate employment, by supporting innovation, business competitiveness, infrastructure and local development.