The Italian institution responsible for fostering sustainable development in Italy and its partner countries is prioritizing investments in energy, sustainable infrastructure, food security, and climate change mitigation.
CDP to Mobilize Over $1 Billion in Financing for African Projects
The Italian development bank, Cassa Depositi e Prestiti (CDP), plans to mobilize over $1 billion in financing for projects in Africa in 2024, as reported by the Italian news agency Agenzia Nova on Wednesday, July 31st, citing the institution’s CEO.
CEO Highlights Italy’s Strong Position for Cooperation with African Countries
“In 2024, we will surpass one billion dollars in financing for Africa for the first time,” stated Dario Scannapieco (photo) during a hearing before the Parliament’s Foreign Affairs Committee.
“Italy is very well positioned to strengthen cooperation with African countries in a mutually beneficial way,” he added, pointing out that Africa has numerous assets, including abundant natural resources, great potential for renewable energy, strong demographic growth, a young workforce, and a rapid urbanization process.
Priority Sectors for CDP: Energy, Infrastructure, Food Security, and Climate Protection
Scannapieco also revealed that the priority sectors for CDP are energy, sustainable infrastructure, food security, and climate protection.
He further disclosed that the Italian financial institution for international development cooperation plans to open two offices in sub-Saharan Africa.
New Offices Planned for Abidjan and Kenya
“One of these offices should be located in Abidjan, given the very close relationship with the African Development Bank, and the other could be established in Kenya, where there are many investment opportunities,” he specified.