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African Development Bank signs agreement to fund regional financial market infrastructure of the West African Monetary Union

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  The African Development Bank www AfDB org signed a 400 000 grant agreement with the D positaire Central Banque de R glement of the West African Monetary Union WAMU on Monday to upgrade regional financial market infrastructure The grant will finance the creation of a digital platform to automate the issuance of securities for the regional financial market and reduce the holding period prior to subscription allocations and registration in the books of the D positaire Central Banque de R glement the host of the digital platform It is expected that it will facilitate access to information and data on the issuance of securities to market players and allow them to have reliable information in real time on the issuance of securities The grant will come from the Capital Markets Development Trust Fund a multi donor fund managed by the African Development Bank and supported by the Luxembourg Ministry of Finance and the Netherlands Ministry of Foreign Trade and Cooperation The African Development Bank is a key partner for the development of the WAMU regional financial market Having already supported the Conseil r gional de l pargne publique et des march s financiers the Bourse r gionale des valeurs mobili res and the Agence UMOA Titres we look forward to continuing to support the development of the WAMU regional financial market with this first partnership with the D positaire Central Banque de r glement said Marie Laure Akin Olugbade Managing Director for the West African Region of the African Development Bank Group This project will be implemented at an opportune time when most of our regional member countries including WAMU member countries are looking to stimulate their post Covid 19 recovery The support of the African Development Bank through this grant will help mobilize additional resources and support the efforts of the West African Monetary Union economies she said Edoh Kossi Amenounve Director General of D positaire Central Banque de r glement said The implementation of this project to digitize the issuance of securities in our market will facilitate the access of investors especially retail investors to our products through a automated transparent and secure system subscription mechanism The D positaire Central Banque de r glement is pleased to be a stakeholder in this important technological development that aims to accelerate the development of the UEMOA regional financial market
African Development Bank signs agreement to fund regional financial market infrastructure of the West African Monetary Union

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African Development Bank

The African Development Bank (www.AfDB.org) signed a $400,000 grant agreement with the Dépositaire Central/Banque de Règlement of the West African Monetary Union (WAMU) on Monday to upgrade regional financial market infrastructure .

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The grant will finance the creation of a digital platform to automate the issuance of securities for the regional financial market and reduce the holding period prior to subscription allocations and registration in the books of the Dépositaire Central/Banque de Règlement, the host of the digital platform. It is expected that it will facilitate access to information and data on the issuance of securities to market players and allow them to have reliable information in real time on the issuance of securities.

Capital Markets Development Trust Fund

The grant will come from the Capital Markets Development Trust Fund, a multi-donor fund managed by the African Development Bank and supported by the Luxembourg Ministry of Finance and the Netherlands Ministry of Foreign Trade and Cooperation.

African Development Bank

“The African Development Bank is a key partner for the development of the WAMU regional financial market. Having already supported the Conseil régional de l’épargne publique et des marchés financiers, the Bourse régionale des valeurs mobilières and the Agence UMOA-Titres, we look forward to continuing to support the development of the WAMU regional financial market with this first partnership with the Dépositaire Central /Banque de règlement,” said Marie-Laure Akin-Olugbade, Managing Director for the West African Region of the African Development Bank Group. “This project will be implemented at an opportune time, when most of our regional member countries, including WAMU member countries, are looking to stimulate their post-Covid-19 recovery. The support of the African Development Bank through this grant will help mobilize additional resources and support the efforts of the West African Monetary Union economies,” she said.

Kossi Amenounve

Edoh Kossi Amenounve, Director General of Dépositaire Central/Banque de règlement, said: “The implementation of this project to digitize the issuance of securities in our market will facilitate the access of investors, especially retail investors, to our products through a automated, transparent and secure system. subscription mechanism. The Dépositaire Central/Banque de règlement is pleased to be a stakeholder in this important technological development that aims to accelerate the development of the UEMOA regional financial market”.

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