CDP & ADB Group to make 400M Euro Investment for Women & Youth

Cassa Depositi e Prestiti (CDP), the National Promotional Institution of Italy alongside African Development Bank Group have planned to jointly make an investment of up to €400 million in over 5 years.

The plan has been initiated with an intent to boost the private sector growth of the continent through Growth and Resilience Platform for Africa (GRAf) which was newly established. Both the institutions shall assist the economic growth of the continent, offering targeted strategic projects for women and youth while promoting the information exchange amongst stakeholders.

Additionally, Akinwumi Adesina, president at African Development Bank Group stated, “I am delighted with our partnership with the Government of Italy on the Mattei Plan by Prime Minister Giorgia Meloni.”

He added, “The partnership between the African Development Bank Group and Cassa Depositi e Prestiti will boost the achievement of the Mattei plan’s objectives in Africa through the scaling up of support to small and medium scale enterprises in Africa, to expand economic opportunities for women and youth, create jobs and reduce the drivers of migration. We will leverage this strategic partnership to scale up investment in Funds in Africa and give greater confidence to global and African institutional investors to also scale-up their investments.”