New Telegraph 
SACE, the Italian insurancefinancial group specializing in supporting businesses and the national economic system under the Ministry of Economy and Finance, and the African Development Bank Group (AfDB), on Thursday, signed a collaboration agreement to provide credit protection to foster investment in Africa, under the “Mattei Plan”.
The signing took place at the ongoing African Investment Forum 2024 Market Days in Rabat, Morocco. According to a press release, the collaboration agreement, signed by Michal Ron, Chief International Business Officer of SACE, responsible for the Overseas Network and African Development Bank Vice President for Finance and Chief Financial Officer Hassatou N’Sele, was conceptualized under the “Mattei Plan” Task Force at the Italian Prime Minister’s Office.
The statement said that the $6 billion Mattei plan to bolster economic links and create an energy hub for Europe, while curbing African emigration to Europe, was unveiled by Italian Prime Minister Georgia Meloni in February this year, adding that the Italian Government and the AfDB Group have planned a series of joint initiatives to support the implementation of the Mattei Plan.
“This initiative establishes synergies between SACE’s products, such as the Push Strategy as an untied export credit product, traditional export credit insurance, and the financial products offered by the African Development Bank Group.
It will support the financing of high impact projects in Africa, while jointly generating opportunities for business matching between African and Italian companies,” the statement said.
Commenting on the partnership, Ron said: “Africa represents a market of great potential for our companies, and our collaboration under the ‘Mattei Plan’ will strengthen their positioning in key sectors for the continent’s development, in line with the purpose of the Mattei Plan.
