Italian Prime Minister Giorgia Meloni recently announced a significant investment initiative exceeding €5.5 billion ($5.9 billion) aimed at enhancing Italy’s relationship with Africa.
This effort is designed to advance energy partnerships and mitigate migration. Meloni hosted a summit with around 25 African leaders, positioning Italy as a key intermediary between the European Union (EU) and Africa.
She emphasized the necessity of addressing the root causes of migration to effectively combat illegal immigration and human trafficking.
The investment will focus on sectors such as energy, education, health, agriculture, and water, incorporating loans, grants, and guarantees.
Approximately €3 billion will derive from Italy’s climate fund, with an additional €2.5 billion from developmental funds.
The Italian government plans to collaborate with international financial entities and donor countries and intends to introduce a new financial tool in partnership with Cassa Depositi e Prestiti to encourage private investment.
This initiative, named the “Mattei plan” after Enrico Mattei, aims to reinforce Italy’s longstanding ties with Africa.
The announcement coincides with Italy assuming the G7 presidency and receiving support from European Commission President Ursula von der Leyen, aligning with the EU’s broader investment strategies in Africa.
Meloni highlighted the energy sector, saying: “The objective which Italy pursues is to help interested African nations to produce enough energy for their own needs and to export to Europe the excess part, combining two necessities: the African one, to develop this output and generate wealth, and the European one, to guarantee itself new energy supply routes.”
