(Ecofin Agency) - The regional council for public savings and financial markets (CREPMF) recently received from the French Development Agency (AFD) €2 million (XOF1.3 billion). An agreement was inked last week between the two parties. 

This facility should help stimulate the WAMU’s financial market, as part of the Project to Accelerate the Sustainable Development of the Regional Financial Market (PACDEM). The latter has three main objectives: boost market regulation, prevent and manage risks, and better protect and educate, financially, the investors. 

The PACDEM is part of key priorities to develop the WAMU’s regional financial market in 2020-2024. 

According to the president of this institution, Mamadou Ndiaye, “the facility will consolidate the substantial efforts made by the WAMU States in line with the reform of its market, in addition to making our financial system safer.”

Created in July 1996, the CREPMF regroups eight WAMU States, namely: Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal, and Togo.