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Project financing: the Italian development bank CDP will invest more than $1 billion in Africa

06/08/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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The CEO of the Italian development bank, Cassa Depositi e Prestiti (CDP) indicated that the institution will mobilize financing in excess of one billion dollars for projects in Africa in 2024.

Cassa Depositi e Prestiti is a public institution responsible for promoting the sustainable development of Italy and its partner countries invests primarily in the fields of energy, sustainable infrastructure, food security and the fight against climate change. During a hearing session by the Parliament's Foreign Affairs Committee, Dario Scannapieco indicated that the bank will exceed $1 billion in financing for Africa in 2024 for the first time. According to him, “Italy is very well placed to strengthen cooperation with African countries in a mutually beneficial way.” The CEO of the institution also indicates that Africa has many assets, including abundant natural resources, great potential for renewable energies, strong population growth, a young workforce and a rapid urbanization process.

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