Italy, EU to make strategic invesments in Africa
(MENAFN)
Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen co-led a summit in Rome on Friday dedicated to boosting strategic investments in Africa, unveiling shared agreements valued at €1.2 billion ($1.38 billion).
Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen co-led a summit in Rome on Friday dedicated to boosting strategic investments in Africa, unveiling shared agreements valued at €1.2 billion ($1.38 billion).
In a joint statement, the leaders emphasized their commitment to forging “impactful partnerships, drive high-quality investments, and unlock opportunities for African-led sustainable growth – anchored in mutual respect, long-term collaboration, and shared prosperity.”
The summit brought together African leaders from Angola, the Democratic Republic of Congo, Tanzania, and Zambia, along with the chairperson of the African Union Commission.
Prominent international financial institutions, including the International Monetary Fund, World Bank Group, African Development Bank, and Africa Finance Corporation, also took part in the discussions.
The European Commission and Italy reiterated their strategic partnership within the framework of the EU’s Global Gateway strategy and Italy’s “Mattei Plan for Africa.” The latter is an Italian initiative focused on collaborating with African nations to promote sustainable development, resilience, and mutually advantageous cooperation.
Both sides pledged to accelerate investments across interconnected sectors such as transport infrastructure, energy, agriculture value chains, and trade facilitation. This approach aims to empower local economies and foster inclusive regional integration.
Highlighting the growing alignment between the Global Gateway and the Mattei Plan, the summit underscored the importance of a unified “Team Europe approach,” calling for strengthened coordination with international financial institutions like the African Development Bank and the Africa Finance Corporation.
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