Italy affirms Partnership with African Development Bank under the Mattei Plan
Italy has reaffirmed its partnership with the African Development Bank (www.AfDB.org) and expressed keenness to explore mutual growth opportunities in Africa under the Mattei Plan.
Stefano Gatti, Director General for Development Cooperation at the Ministry of Foreign Affairs and International Cooperation (FAIC) and Lorenzo Ortona, Head of the Mattei Plan Task Force led a delegation to the Bank's Abidjan headquarters on Thursday 8 May. The delegation comprised representatives of institutions charged with implementing the Mattei plan for Africa, such as Cassa Depositi e Prestiti(CDP), the Ministry of Finance, as well as important representatives of the business and private sector and civil society organisations.
Under the Mattei Plan for Africa, Italy aims to foster economic and strategic partnerships with African nations and institutions. Its Prime Minister Giorgia Meloni has stated that the African Development Bank Group would be (https://apo-opa.co/3FkcLD8) its main strategic financial partner for implementation of the plan on the continent.
The delegation was hosted by African Development Bank Senior Vice President Marie-Laure Akin-Olugbade, who was joined by three vice presidents –Nnenna Nwabufo, Beth Dunford and Kevin Kariuki, as well as several directors from the energy, resource mobilization and finance departments, among others.
Participants in the meeting exchanged on ways to strengthen public-private sector collaboration with Italy in reducing hunger and boosting agriculture in Africa. The conversation also discussed the importance of the African Development Fund, the Bank's concessional lending arm in addressing the challenges of the continent's most disadvantaged countries.
Akin-Olugbade expressed satisfaction at the progress made since the announcement of the Plan in July 2024, in particular, the Rome Process/Mattei Plan Financing Facility (RPFF), a multi-donor Special Fund aimed at supporting climate aligned sovereign infrastructure projects that help to address the root causes of migration. The RPFF with contributions from Italy and the UAE amounting to over $170 million, is now operational.
The senior vice president commended Italy for demonstrating its commitment and thanked the government for its choice of The African Development Bank as partner. 'We appreciate, of course, the choice of the African Development Bank to accompany you in your strategy, very ambitious strategy for the continent. We are really very happy to hear that Italy, indeed, is still strongly committed to the continent, and of course, to working with the African Development Fund.'
Other instruments under the Plan with the African Development Bank include the Growth and Resilience Platform for Africa (Graf), and a bilateral co-financing facility. Under Graf, CDP and the African Development Bank intend to invest up to EUR 400 million over five years in private equity funds to accelerate private sector development in Africa.
'We are grateful for the outstanding job that the bank has done. We really appreciate it,' Ortan said. 'We really believe that in order to enhance the Mattei plan in Africa and the visibility of it, we need partners like you.'
Concluding the discussions, Akin-Olugbade said the Mattei plan has emerged as a template for future cooperation between Italy and other developed countries and Africa.
She said: 'I believe that Italy has seen the African Development Bank, the African Development Fund as trusted partners. I believe we have a good track record of providing and achieving results. There's a leveraging effect that multilateral development banks have that sometime bilateral resources do not have. And we need to take advantage of this.'
Italy has been a strong partner to the African Development Fund and pledged EUR 298.88 million to its sixteenth replenishment. Italy has been a partner in Mission 300, as well as advocating for strengthening private sector engagement, especially for youth entrepreneurship.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
3 hours ago
- The National
UAE welcomes peace deal between DR Congo and Rwanda
The UAE has welcomed the signing of a peace deal between the Democratic Republic of the Congo and Rwanda. State news agency Wam on Saturday reported the agreement was a significant step towards reinforcing peace, security and stability across Africa. The US-brokered agreement, signed on Friday in Washington, aims to bring to an end a three-decade conflict in the eastern DRC, which escalated earlier this year, when the Rwanda-backed M23 rebels seized the key cities of Goma and Bukavu. The conflict is fuelled by the rich mineral resources in eastern Congo. Sheikh Shakhbout bin Nahyan, Minister of State, commended the efforts of US President Donald Trump, and Sheikh Tamim, Amir of Qatar, in facilitating the positive and constructive achievement, which comes in support of the African Union's mediation efforts and the outcomes of the joint summit of the Southern African Development Community and the East African Community. Sheikh Shakhbout underscored that the international co-operation, which led to the signing of this agreement, reflects the significance of collective action in addressing regional issues and the importance of resolving disputes through diplomatic action. He also emphasised the historic ties between the UAE and the countries of the African continent, including the Democratic Republic of the Congo and the Republic of Rwanda. And he reiterated the country's support for any efforts that contribute to enhancing security, peace and sustainable development on the continent.
Zawya
16 hours ago
- Zawya
United Arab Emirates (UAE) Welcomes Signing of Peace Agreement Between Democratic Republic of the Congo and Republic of Rwanda
The United Arab Emirates has welcomed the signing of the peace agreement between the Democratic Republic of the Congo and the Republic of Rwanda in Washington, commending it as a significant step towards reinforcing peace, security, and stability across the African continent. His Excellency Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, commended the extensive efforts of U.S. President Donald Trump, and His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, in facilitating this positive and constructive achievement, which comes in support of the African Union's mediation efforts and the outcomes of the joint summit of the Southern African Development Community (SADC) and the East African Community (EAC). His Excellency considers the agreement a reflection of the strong determination and unwavering commitment of both parties to peaceful solutions and dialogue. His Excellency underscored that the international cooperation, which led to the signing of this agreement, reflects the significance of collective action in addressing regional issues, and the importance of resolving disputes through diplomatic means to achieve the aspirations of the peoples of the region for stability and prosperity. H.E. Sheikh Shakhboot bin Nahyan emphasized the deep-rooted historic ties between the UAE and the countries of the African continent, including the Democratic Republic of the Congo and the Republic of Rwanda, reiterating the country's steadfast approach in consolidating bridges of partnership and dialogue and its support for any efforts that contribute to enhancing security, peace, and sustainable development on the continent. Distributed by APO Group on behalf of United Arab Emirates, Ministry of Foreign Affairs.
Zawya
18 hours ago
- Zawya
ACT partners with WinFi to drive digital transformation in the F&B sector
Cairo, Egypt: ACT, a leader in the ICT industry, has announced the signing of a strategic partnership with WinFi, an innovator in smart connectivity solutions and customer data analytics. The aim is to provide an integrated digital experience for the F&B sector, leveraging modern technology to enhance customer experiences and utilize customer analytics data to achieve the highest levels of profitability. With over 35 years of experience in designing and implementing comprehensive solutions for the hospitality sector, ACT serves more than 3,000 clients worldwide through a dedicated team of over 500 experts. The company is a strategic partner for numerous global hotel brands and major restaurants. At the core of ACT's integrated ecosystem is the Oracle Simphony restaurant management solution, which offers comprehensive management of orders, inventory, kitchen display systems, reservations, and table management, among many other features, all in line with the highest international standards. Through the partnership with WinFi, ACT will empower its customers with new solutions that enhance internet connectivity within their restaurants, transforming Wi-Fi from a basic connectivity tool into an effective means of data collection and analysis, enabling deeper insights into customer behavior. WinFi provides smart and secure Wi-Fi solutions that allow restaurant owners to monitor customer flow like never before. This enables them to track peak times, identify repeat visitors, and launch targeted marketing campaigns directly to customers' phones while they are on-site, thereby enhancing loyalty, increasing return rates, and making the digital experience a crucial element for revenue growth and performance improvement. In this context, Mr. Mohamed Abou El Leil, General Manager of ACT, stated: "Collaborating with WinFi is a strong addition to the smart solutions we offer to the hospitality sector. Through this partnership, we can provide our customers with deeper insights into their guests' behaviors, helping them deliver more personalized and effective experiences. Our vision for the future focuses on building a comprehensive digital hospitality ecosystem that not only relies on operational efficiency but also extends to understanding and engaging with customers in real-time." He added: "Through this collaboration, we aim to empower restaurants to turn every customer touchpoint into an opportunity to enhance service and increase loyalty by employing flexible and scalable technological solutions that align with evolving market demands." This partnership comes at a time when the hospitality sector is experiencing rapid digital transformation, where data and analytics have become critical factors in creating exceptional guest experiences. Technology has become an indispensable tool for achieving operational efficiency and sustainable growth. Through this protocol, ACT reaffirms its ongoing commitment to providing the latest integrated solutions to its clients and continues its leading role in supporting digital transformation in Egypt and the Middle East.
