The African Development Bank (AfDB) has announced its commitment to match Italy’s $150 million in concessional loans and grants aimed at funding transformative projects across Africa.
Italy’s Mattei Plan, unveiled earlier this year by Prime Minister Giorgia Meloni, seeks to bolster Africa’s development efforts in key sectors such as energy, water, agriculture, health, education, and infrastructure.
The plan aims not only to spur economic growth but also to mitigate irregular immigration to Europe by creating job opportunities and enhancing living conditions within African nations.
Dr. Akinwumi Adesina, President of the African Development Bank Group, praised Italy’s initiative, stating its potential to generate huge developmental impacts across the continent.
“Our partnership with Italy under the Mattei Plan will significantly expand access to vital services like energy and healthcare, bolster food security, and enhance educational opportunities,” stated Adesina during discussions at the G7 Summit in Puglia.
The AfDB’s commitment involves matching Italy’s financial contributions with its own resources, ensuring that joint projects under the Mattei Plan receive financial backing. This collaboration not only aims to attract other international partners but also aligns with global efforts to promote sustainable and climate-aligned investments in Africa.
Furthermore, a Multi-donor Special Fund has been established to support the Mattei Plan and the Rome Process on Migration and Development.
This fund, backed by initial pledges from Italy and additional commitments from partners like the United Arab Emirates, is designed to catalyze high-impact investments aligned with Africa’s sovereign development priorities.
Prime Minister Giorgia Meloni expressed optimism about the collaboration, highlighting Italy’s commitment to building enduring economic partnerships with African nations.
“Italy’s ‘Piano Mattei’ will open new avenues for collaboration between African public and private sectors, offering opportunities for Italian businesses while advancing mutual development goals,” she affirmed.
