On October 9, 2009, the UNU-Rector, Prof. Konrad Osterwalder and the Senegalese Minister of Higher Education and Scientific Research, Prof. Amadou Tidiane Ba, signed an agreement for the establishment of a United Nations University Institute in Dakar, Senegal, within two years from now. The new UNU institute, which will be the formal twinning structure for collaborative activities between UNU-MERIT and the Consortium pour la Recherche Economique et Sociale (CRES), Dakar, will undertake economic research activities related to innovation and accelerated and sustainable development. It will also provide training in the form of a doctoral-level academic program as well as policy-oriented modules for officials from both African and international administrations.