AfDB & SACE sign $6b investment deal

(The Nation Online, Lagos, 5 December 2024) In continuation of existing partnerships between the African Development Bank (AfDB) and the Italian government under the “Mattei Plan”, a $6b investment deal has been signed to sustain the development of initiatives with Africa’s public and private sectors. Specifically, this investment package which gives additional opportunities for Italian businesses in education, agribusiness, healthcare, energy, water and digital economy infrastructure, will provide credit protection to foster investment in Africa. SACE noted the first €3 billion of the plan were under their management and derived from the Italian Climate Fund, "a €4.2B fund created a couple of years ago to help our partners transition their economy into a greener one.”