The Italian state lender, CDP, and the African Development Bank (AfDB) have entered into a strategic partnership to drive sustainable development in Africa. The two institutions have signed a €400 million co-financing deal aimed at promoting climate finance, sustainable agriculture, education, and technical assistance.
This collaboration aligns with Italy’s Mattei Plan, a €6 billion initiative designed to foster economic development in Africa. By joining forces, CDP and AfDB aim to mobilize capital and accelerate sustainable growth across the continent.
Paolo Lombardo, head of CDP’s international cooperation and development finance, emphasized the importance of leveraging African funds to drive development. The partnership between CDP and AfDB will facilitate the deployment of capital to projects that have a positive social and environmental impact.
This strategic alliance between Italy and Africa signifies a shared commitment to sustainable development and economic prosperity. By working together, the two parties can unlock significant opportunities for growth and create a more sustainable future for the African continent.