Public Management

Italy unveils $5.9bn strategic partnership program with Africa

Italy unveils $5.9bn strategic partnership program with Africa
Monday, 29 January 2024 18:39

Italian Prime Minister Giorgia Meloni announced today a "strategic partnership" program with African countries, revealing an initial budget of $5.9 billion. Dubbed the "Mattei Plan," this initiative has a dual objective: to accelerate the development of African countries, thereby reducing migratory flows to Europe, and to establish Italy as an energy hub connecting Africa to Europe.

"Our plan is supported by $5.5 billion in loans, grants, and guarantees. Approximately $3 billion will come from the Italian Climate Fund, and $2.5 billion from the Development Cooperation Fund," said Meloni at the opening of the inaugural Italy/Africa Summit in Rome.

The partnership program, known as the "Mattei Plan," takes its name from Enrico Mattei, the founder of the Italian energy giant ENI. In the 1950s, Mattei advocated for an extensive development plan for African countries, assisting them in harnessing their natural resources.

Speaking in the presence of over 20 African heads of state and government, including the presidents of Tunisia, Senegal, Comoros, Republic of Congo, Eritrea, Ghana, Kenya, Mauritania, Mozambique, and Zimbabwe, Meloni highlighted the interconnected destinies of Africa and Europe.

"Italy is committed to demonstrating our awareness of the interconnected fate of our continents. We can envision and script a new chapter in our relations, involving cooperation among equals, far from any predatory temptations and charitable approaches to Africa," she declared. Meloni stated that her government aims to engage the private sector and international organizations, such as the European Union (EU), in the Mattei Plan.

The President of the European Commission, Ursula von der Leyen, the President of the European Council, Charles Michel, and the President of the European Parliament, Roberta Metsola, were all present at the opening session of the Italy/Africa Summit in Rome.

Meloni, whose country presides over the G7 this year, also pledged to make the development of Africa a central theme of her mandate. "Italy has made a specific choice in foreign policy that will give Africa a place of honor in the agenda of our G7 presidency," she announced.

In a statement given on Sunday evening to the public television channel Rai 1, the Italian Prime Minister unveiled some pilot projects envisaged under the Mattei Plan. "A large professional training center for renewable energies in Morocco, projects on education in Tunisia, and others for healthcare access in Côte d'Ivoire are some of the Mattei Plan's pilot projects. Sharing is one of the key principles of the plan, and the outcomes of this summit will be crucial to enriching the journey," she said, specifying that projects are also planned in Algeria, Mozambique, Egypt, the Republic of Congo, Ethiopia, and Kenya.

According to Italian media, the plan, spanning four renewable years, will be structured across various intervention areas, including partnerships in the energy sector, promotion of exports and investments, education and training, healthcare, food security, sustainable exploitation of natural resources, environmental protection, infrastructure development, prevention of irregular migration, and management of legal migration flows.

The goal is both to secure the EU's energy supply and expedite the development of African countries to curb migratory flows to Europe. During the UN General Assembly in September 2023, the Italian Prime Minister presented her plan as "a serious alternative to the phenomenon of mass migration."

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Ghana enacts the VASP Bill 2025 to regulate digital assets under the Bank of Ghana, ending years of legal and regulatory ambiguity. The law mandates...
Sanlam Maroc takes a stake in Woliz, a local retail tech startup The deal marks Sanlam’s first long-term private equity venture in Morocco Investment...
Treasury securities issuance reached CFA5,272.8 billion from January to October Bond issues exceeded Treasury bills, signaling a shift to longer-term...
US strikes in Sokoto test Nigeria's financial stability, causing Eurobond yields to surge and investor risk premiums to rise sharply. The Naira...
Most Read
01

Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...

Kenya targets UK market to boost mango exports
02

Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...

Beyond Online Checkouts: Apple Pay Finds a Second Row into Nigeria via Nomba
03

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
04

Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...

Safaricom and Airtel Money Licensed to Facilitate Capital Markets Access in Kenya
05

In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...

AGRA’s Lilial Githinji “Leadership capacity remains the missing ingredient in Africa’s food systems transformation”
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.