A Memorandum of Understanding (“MoU”) between the Organisation for Economic Co-operation and Development (the “OECD”), the Italian Department of the Treasury (the “Italian Treasury”) and the World Bank, collectively referred to as “the Parties”, on the operation of the Public Debt Management Network, has been signed in December 2022 (the “2022 MoU”).

The 2022 MoU represents a statement of intent by the OECD, the Italian Treasury and the World Bank to continue collaborating in the achievement of common objectives as described, and on the basis outlined, in the MoU.

As of December 2004, the Italian Treasury and the OECD established the OECD - Italian Treasury Public Debt Management Network in Emerging Markets, to promote a permanent international dialogue in public debt management between developed and developing countries. In 2013, the Bank joined the Public Debt Management Network in Emerging Markets, and a new MoU was signed to this effect in August and September 2013 for a duration of two years (“2013 MoU”. In February 2017, the Parties signed the renewal of the MOU, with a duration of five years (the “2017 MoU”). They also agreed to change the Network name in Public Debt Management Network (hence the “PDM Network”).

The 2022 MoU supersedes the 2017 MOU signed by the Parties.