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CDG and CDC Senegal sign a memorandum of understanding with a view to studying the repurposing of the site of the current Léopold Sédar Senghor International Airport as a new urban centre integrated with the city of Dakar

On Monday, 25 May 2015 in Dakar, as part of the current Royal Tour in Africa and before His Majesty King Mohammed VI, may Allah glorify and assist him, and His Excellency the President of the Republic of Senegal, Mr. Macky Sall, the Caisse de Dépôt et de Gestion of Morocco and the Caisse des Dépôts et Consignations of Senegal (CDC Senegal) signed a Memorandum of Understanding with the aim of repurposing the site of Dakar’s current Léopold Sédar Senghor International Airport as a major new urban centre integrated into the city of Dakar.

CDG and CDC Senegal will be responsible for carrying out the preliminary studies for the design and structuring of this major new urban development project (legal, technical, town planning, financial, land and commercial aspects and issues, and so forth).

This major agreement further strengthens the excellent relations between the two fraternal countries and allows them to pool the expertise of both the Moroccan and the Senegalese Banks, and the strong synergies between them.

It should be noted that CDG Morocco has developed real expertise in developing structural urban projects, in particular in the Casa Anfa project, one of the Group’s flagship accomplishments in urban development projects.

About Caisse des Dépôts et Consignations of Senegal

Caisse des Dépôts et Consignations of Senegal (CDC) is a public institution with special status created by Law No. 2006-03 of 4 January 2006. Its primary mission is to contribute to the mobilization of funds that need special protection and ensure that they are put to work through secure liquid and profitable investment platforms capable of producing outputs that will serve the public good.

It is a lever on which the Senegalese authorities rely in order to carry out the priority activities identified in the law establishing CDC: social housing; SMEs; local government facilities; and urban policy.

In view of its activities and missions, it should be noted that the CDC, like other such institutions, sees itself as an institutional investor that assists with public development policy, but at the same time with heavy involvement in the competitive sector.

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