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Growth of the private sector in Africa: 400 million euros planned by CDP and BAD

01/08/2024
Source : ORISHAS-FINANCE
Categories: Sectors Rate

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Cassa Depositi e Prestiti (CDP) and the African Development Bank Group (AfDB) plan to jointly invest up to 400 million euros in order to accelerate the growth of the continent's private sector through the Platform for Growth and Development silience in Africa (GRAF) newly established

.

The financing planned for a period of 5 years will allow CDP and ADB, the two financial institutions in collaboration, to support the economic growth of the continent through targeted strategic projects. They will promote the exchange of information between stakeholders and will facilitate joint investment opportunities. Each institution will contribute 200 million euros that will be injected into the African economy through private equity and venture capital funds operating in three main areas. These include food security, the growth of local SMEs, and sustainable infrastructure. The Platform for Growth and Resilience in Africa will mobilize an additional 350 million euros from other sources to bring the envelope to 750 million euros

.

Cassa Depositi e Prestiti (CDP) is the national promotion institution and financial body for Italy's international development cooperation. It is responsible for promoting the sustainable development of Italy and its partner countries. And works to support economic growth, social inclusion and ecological transition by investing in innovation, business competitiveness, infrastructure and local development

.

Pour sa part, le Groupe de la Banque africaine de développement Is the first development finance institution in Africa. It includes three distinct entities: the African Development Bank style="font-family: "Bookman Old Style”, "serif">, the African Development Fund, and the

Nigeria Special Fund.
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