Italy reveals €5.5 billion investment plan to boost Italian-African ties

Italian Prime Minister Giorgia Meloni has revealed an investment plan of over €5.5 billion ($5.9 billion) aimed at fortifying Italian ties with Africa. The initiative seeks to enhance energy partnerships and address migration flows.

She conveyed this information during a one-day summit attended by more than two dozen African leaders and European Union officials. In this summit, she aimed to establish Rome as a key political and economic bridge between Europe and Africa, Bloomberg reported.

Among the African leaders present were the presidents of Tunisia, Senegal, Kenya, the Republic of Congo and Somalia.

What Meloni said:

“We believe it is possible to envision and write a new chapter in the history of our relationship, a cooperation among equals, far from any predatory imposition or charitable stance towards Africa,”

“…mass illegal immigration will never be stopped, traffickers in human lives will never be defeated if we don’t tackle the causes which push someone to abandon their own home,”

“That is exactly what we intend to do, on the one hand declaring war against the traffickers of the third millennium, and on the other working to offer the African peoples an alternative made up of opportunities, work, training and legal migration,” she said.

Meloni says Italy’s priorities will include energy, education, professional training, health, agriculture, and water. The initial package, including loans, grants, and guarantees, will be made up of about €3 billion from Italy’s climate fund and about €2.5 billion from development resources, she added.

For the energy sector, Meloni noted that Italy’s goal is to assist African nations in generating sufficient energy for their domestic requirements and exporting the surplus to Europe.

SOurce: business Insider