The African Development Bank (AfDB) has announced a partnership with Italy to match $150 million in concessional loans and grants to fund projects in Africa, as part of Italy’s Mattei Plan for Africa. The plan aims to boost development and economic growth on the continent to reduce irregular migration to Europe. AfDB will match Italy’s funding to prioritize key sectors like energy, water, agriculture, health, education, and infrastructure. Additionally, a Multi-donor Special Fund has been established to support high-impact, climate-aligned investments in Africa.
The Prime Minister of Italy, Ms Giorgia Meloni, and the President of AfDB, Dr Akinwumi Adesina, met to discuss the partnership at the G7 Summit. Adesina praised Italy’s initiative and highlighted the partnership’s potential to create economic opportunities, address climate change, improve food security, and provide skills and jobs for African youth. Italy sees AfDB as a crucial financial partner for implementing the Mattei Plan and fostering partnerships with African nations and institutions.
Overall, the collaboration between Italy and AfDB aims to drive sustainable development and economic growth across Africa, while also addressing migration challenges. This strategic partnership will benefit both African countries and Italian businesses, creating new opportunities for mutual growth and prosperity.\
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