(AfDB) - Italy has reaffirmed its partnership with the African Development Bank 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 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.