Public Management

G7: Italy Chooses the AfDB to Implement its "Mattei Plan"

G7: Italy Chooses the AfDB to Implement its "Mattei Plan"
Saturday, 15 June 2024 15:02

The Prime Minister (PM) of Italy, Ms. Giorgia Meloni, and the President of the African Development Bank Group, Dr. Akinwumi A. Adesina, met on the sidelines of the G7 Heads of State and Government Summit in Puglia. Their discussion focused on the forthcoming launch of a series of joint initiatives to support the implementation of Italy’s Mattei Plan for Africa and Rome Process on Migration and Development agenda as agreed during the Italy-Africa Summit held in Roma in January 2024.

Italy’s ‘Piano Mattei’ will foster economic and strategic partnerships with African nations and institutions, and the African Development Bank Group is our main strategic financial partner for its implementation. Our collaboration will sustain the development of initiatives with Africa’s public and private sectors, with additional opportunities for Italian businesses”, Prime Minister Meloni said.

President Adesina said: “I applaud Prime Minister Meloni for her launch of the Mattei plan and for selecting the African Development Bank Group as its strategic partner to deliver it for Africa. Our partnership will deliver impactful development impacts across African countries, expand access to energy, tackle climate change, support food security, boost health services, and expand skills and jobs for the youth. This will help create more economic opportunities in Africa and help stem drivers of migration.”

Establishment of a Multi-donor Special Fund to serve the Mattei Plan for Africa and the Rome Process on Migration and Development. The Fund targets high impact and climate aligned investments in key strategic sectors in support of sovereign entities in Africa. Thanks to its multi-donor nature, it will be able to attract other international partners to combine forces and leverage funding. An initial pledge of around $130 million in highly concessional loans and grants has been announced by Italy, together with an additional commitment by the United Arab Emirates (UAE). The African Development Bank Group has committed to at least match the Fund’s contributions on each project with its own resources.

Bilateral agreement between Italy and the African Development Bank Group encompassing a cofinancing arrangement and trust fund to finance joint projects. Italy has committed approximately $150 million in highly concessional loans and grants and the African Development Bank Group will at least match this amount. The objective is to pursue Italian and African Development Bank Group priorities as set out by the Mattei Plan for Africa and by the Italian Development Cooperation strategy, to foster economic and strategic partnerships with African nations and institutions by building common business opportunities and scaling up investment flows. The priority areas are energy, water, agriculture, health, education and training and infrastructure both physical and digital.

A common platform to promote private sector investments, the Growth and Resilience platform for Africa (GRAf). The platform aims to mobilize equity capital to regional funds that would finance entrepreneurial activities to support job creation in Africa. The Italian development financial institution, Cassa Depositi e Prestiti (CDP), has indicated the intention to catalyze up to around $820 million over a five-year horizon alongside key African and international partners, with CDP and the African Development Bank Group each considering up to $200 million over the same period.

Moreover, Italy has already committed to contributing up to $45 million to the Alliance for Green Infrastructure in Africa (AGIA), a transformative initiative promoted by the African Development Bank Group, the African Union and Africa50 aimed at mobilizing $10 billion to support investment in green infrastructure across Africa.

The Bank management will diligently convoy these joint initiatives through the Bank Group’s decision-making process.

logo BAD

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Togo’s GDP grew 17.7% in Q4 2024• Agriculture, construction, services drove sharp year-end rebound• Electricity, hospitality, and public sector saw...
• Morocco’s Jobzyn secures pre-seed funding from pan-African fund Janngo Capital.• Startup uses AI to match candidates, assess soft skills, and streamline...
• Acumen rolls out second KawiSafi fund with $90 million capital, $40 million secured.• Fund targets 50 million people, avoiding 50 million...
Africa registered a 12% increase in international tourist arrivals in H1 2025, the highest global growth. North Africa and Sub-Saharan Africa...
Most Read
01

Zenith Bank picks Côte d’Ivoire for $90M debut into Francophone Africa, confirming ambition t...

Zenith Bank Moves to the WAEMU/CEMAC  $92.4 Billion Loan Book Appeal, When Half Seats Are Taken
02

• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...

WAEMU fintech industry strengthens with two new BCEAO regulatory approvals
03

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...

In Nigerian, Bank Technology Failures Pushed OPay and PalmPay to Leadership in Daily Payments
04

Niger’s economy grew 10.3% in 2024 and is projected to expand 6.6% in 2025. Yet non-performin...

Niger’s rapid growth shadowed by fragile banking sector
05

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.