(Telestock) – Deposits and Loans Fund (CDP) African Development Bank (AfDB) will invest up to 400 million euros over the next five years to support the growth of the African private sector through the platform Growth and Resilience platform for Africa (GRAf). Thanks to the new form of collaboration, CDP and the African Development Bank will support the growth of the African continent through targeted initiatives on strategic projects, promoting the exchange of information between actors on the territory and facilitating joint investment opportunities.
The new platform aims to accelerate the implementation of new initiatives promoted by the private sector on the continent, creating a single point of access for investment opportunities. The resources invested, which can reach 200 million euros for each institution, they will be conveyed in the African economic fabric through funds that operate in the territory in three main areas: food security, local SME growth and sustainable infrastructure.
The GRaF platform aims to mobilise an additional 350 million eurosto get to a total of 750 millionallowing future investors who join to gain new insights into the African private sector and share investment opportunities in funds operating on the Continent. The platform will allow for significant indirect impacts, generating benefits on the real economy in terms of job creation and improvement of essential products and services in Africa.
The initiative, presented by Prime Minister Giorgia Meloni at the recent G7 summit in Borgo Egnazia, is part of the Mattei Plan for Africa.
“Through the renewed collaboration with the African Development Bank Today we are opening a new important channel through which We aim to mobilize up to 750 million for projects and initiatives that directly benefit Africa in the perspective of common growth as foreseen by the commitment undertaken by our Government through the Mattei Plan. The long-term development of our country is intrinsically linked to growth of the African continent and in particular of its private sector: we are confident that this new collaboration will be able to incentivise significant opportunities also for our companies in strategic sectors such as agriculture, infrastructure and manufacturing, in which our country has excellent companies”, declared theCEO and General Manager of Cassa Depositi e Prestiti, Dario Scannapieco.
“We are proud of our partnership with the Italian Government on the Mattei Plan, presented by Prime Minister Giorgia Meloni. The agreement between the African Development Bank And Deposits and Loans Fund will contribute to the achievement of the objectives of the Mattei Plan in Africa through theIncreased support for Small and Medium Enterprisesin order to increase economic opportunities for women and youth, create jobs and address the drivers of migration. We will continue to leverage this strategic partnership to Increase Investment in Funds in Africa and provide greater confidence to African and global institutional investors so that they can further enhance their capacity to deploy resources”, stressed the President of the African Development Bank, Akinwumi A. Adesina.