{"id":60522,"date":"2024-12-11T08:43:10","date_gmt":"2024-12-11T08:43:10","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa"},"modified":"2024-12-11T09:32:12","modified_gmt":"2024-12-11T09:32:12","slug":"african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa","title":{"rendered":"African Development Bank and Italy’S CDP to Mobilise up to \u20ac750 Million for Africa"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The African Development Bank Group and Italy\u2019s National Promotional Institution Cassa Depositi e Prestiti (CDP) have signed a new implementing agreement for cooperation through an investment platform to advance the continent\u2019s economic growth. <\/b><\/p>\n

The partnership framework agreement between the two entities setting up the Growth and Resilience Platform for Africa (GRAf)\u2014signed on 5 December in Rabat\u2014follows the signing of a letter of intent in July 2024.<\/p>\n

Through GRAf, CDP and the African Development Bank plan to jointly channel up to \u20ac400 million over five years through private equity and venture capital funds targeting food security, growth of local small and medium enterprises (SMEs) and sustainable infrastructure. GRAf plans to mobilise an additional \u20ac350 million from other sources to bring the pool of investment capital up to \u20ac750 million.<\/p>\n

Through GRAf, the two institutions will target strategic projects, promote the exchange of information among stakeholders, and facilitate joint investment opportunities. The platform is expected to accelerate the implementation of new African initiatives promoted by the private sector and create a single access point for investment opportunities.<\/p>\n

Collaboration through the platform is also expected to contribute to job creation and improvements in the delivery of essential products and services across the continent.<\/p>\n

The African Development Bank Group Vice president for Private Sector, Infrastructure and Industrialisation Solomon Quaynor said \u201cby leveraging the GRAf Co-Investing Platform, we are not only mobilising resources but also creating a unified framework to address critical challenges like energy access, agricultural productivity, and employment creation. This collaboration is a testament to our shared vision of empowering African nations to achieve sustainable growth and resilience while fostering inclusive economic opportunities.\u201d<\/p>\n

The initiative, presented by Italy\u2019s Prime Minister Giorgia Meloni at the recent G7 summit, is part of the Mattei Plan for Africa, a strategic Italian initiative unveiled in 2022 to forge a new era of mutual partnership and sustainable development between Africa and Italy. The Plan will focus on energy cooperation, security and stability, and cultural and scientific exchanges.<\/p>\n

Paolo Lombardo, CDP\u2019s Director for International Development Cooperation said: \u201cThis implementing agreement marks an important step in further advancing the strong partnership between CDP and the African Development Bank Group. Building on the foundation laid earlier this year, we are now taking action to implement the Growth and Resilience Platform for Africa. By mobilising up to \u20ac750 million, we aim to support food security, local SME development, and sustainable infrastructure\u2014areas critical to the Mattei Plan\u2019s vision of fostering mutual prosperity and long-term growth in Africa.\u201d<\/p>\n

The African Development Bank Group has the largest dedicated private equity and venture capital fund-of-Funds in Africa, with over $1.36 billion committed to 74 private equity and venture capital funds.<\/p>\n

About Cassa Depositi e Prestiti (CDP)<\/p>\n

CDP is the Italian National Promotional Institution, and the Financial Institution for International Development Cooperation entrusted by the Italian State to foster the sustainable development of Italy and partner countries. CDP supports economic growth, social inclusiveness, and ecological transition by investing in innovation, business competitiveness, infrastructures, and local development.<\/p>\n

For More News And Analysis About Botswana<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The African Development Bank Group and Italy\u2019s National Promotional Institution Cassa Depositi e Prestiti (CDP) have signed a new implementing agreement for cooperation through an investment platform to advance the continent\u2019s economic growth. The partnership framework agreement between the two entities setting up the Growth and Resilience Platform for Africa (GRAf)\u2014signed on […]<\/p>\n","protected":false},"author":84,"featured_media":60521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-60522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-botswana"],"yoast_head":"\nAfrican Development Bank and Italy'S CDP to Mobilise up to \u20ac750 Million for Africa - Botswana<\/title>\n<meta name=\"description\" content=\"The African Development Bank Group and Italy\u2019s National Promotional Institution Cassa Depositi e Prestiti (CDP) have ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"African Development Bank and Italy'S CDP to Mobilise up to \u20ac750 Million for Africa\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank Group and Italy\u2019s National Promotional Institution Cassa Depositi e Prestiti (CDP) have ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T08:43:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-11T09:32:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/12\/sm_1733896900.661474.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"535\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"African Development Bank and Italy’S CDP to Mobilise up to \u20ac750 Million for Africa\",\"datePublished\":\"2024-12-11T08:43:10+00:00\",\"dateModified\":\"2024-12-11T09:32:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\"},\"wordCount\":524,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/12\/sm_1733896900.661474.jpg\",\"keywords\":[\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/african-development-bank-and-italys-cdp-to-mobilise-up-to-e750-million-for-africa\",\"name\":\"African Development Bank and Italy'S CDP to Mobilise up to \u20ac750 Million for Africa - 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