Italian PM and AfDB forge stronger ties

Marking a collaborative effort to bolster the partnership between Italy and Africa, Italian Prime Minister Georgia Meloni and the President of the African Development Bank Group, Dr. Akinwumi Adesina, held a bilateral meeting in Rome following this week’s Italy-Africa summit. More than 25 African heads of state and government, along with representatives from the African Union, the European Union, the United Nations, and international financial institutions, participated in the summit.

Prime Minister Meloni unveiled the ambitious Mattei Plan, a nearly $6 billion initiative aimed at enhancing economic ties and establishing an energy hub for Europe while addressing the issue of African emigration. The Mattei Plan focuses on five key sectors: education and training, health, energy, water, and agriculture. Adesina expressed the African Development Bank’s readiness to collaborate with the Italian government, emphasising that the plan aligns with the Bank’s priorities known as the High 5s.

Adesina commended Italy for its steadfast support of the African Development Bank Group, assuring the prime minister that the Bank stands as her partner of choice. He outlined the Bank’s initiatives, including the Technologies for African Agricultural Transformation (TAAT) program, which has benefited over 13 million farmers and contributed to Ethiopia’s self-sufficiency in wheat production.

The African Development Bank President also highlighted the Dakar 2 Food Summit, where over 34 heads of state and government mobilised $72 billion for food and agricultural delivery compacts across 41 African countries. Adesina discussed the Bank’s Youth Entrepreneurship Investment Banks program, a $1 billion commitment to support tertiary education and training facilities, and the Affirmative Finance Action for Women in Africa (AFAWA) program, backed by G7 nations.

Adesina invited Prime Minister Meloni to champion the Bank’s effort to provide clean cooking equipment to 250 million women in Africa by 2030, requiring an annual investment of $4 billion. The collaboration aims to leverage the Inter-American Development Bank and the International Monetary Fund for the re-channeling of Special Drawing Rights, enhancing development outcomes for the African continent.

As Italy assumed the G7 Presidency in January, Prime Minister Meloni expressed her commitment to collaborating on food security, clean cooking energy, and other initiatives with the African Development Bank. Adesina, addressing the General Assembly of the Association for the Development of Italian Companies in Africa, emphasised Africa’s potential as an investment destination, citing its burgeoning middle class and rapidly rising purchasing power.

At a separate event during the week, the Italian Climate Fund pledged over $40 million to the Alliance for Green Infrastructure in Africa (AGIA), signalling strong support for transformative climate-aligned infrastructure projects across the continent. The pledge, made through the Cassa Depositi e Prestiti, further underscores Italy’s commitment to fostering sustainable development in Africa.