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Italy and African Development Bank sign $420m co-financing deal

5 Dec 2024

Italian state lender CDP and the African Development Bank (AfDB) signed on Thursday, 5 December 2024 a co-financing deal worth €400m ($420m) to promote climate finance, sustainable farming, education and technical assistance, AfDB's vice president for finance Hassatou Diop N'Sele said.

Source: Reuters.

The deal, signed during the AfDB's Africa Investment Forum in Rabat, is part of Italy's €6bn euro Mattei plan to boost African development, she said.

"We want to mobilise capital across Africa using African funds basically accelerating equity,” Paolo Lombardo head of CDP’s international cooperation and development finance director said at the signing ceremony.

Source: Reuters

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Go to: https://www.reuters.com/