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Italy joined the African Development Fund in 1975 and the African Development Bank in 1982.
Italy contributes to several initiatives:
- Initiative for Risk Mitigation in Africa (IRMA) - The Government of Italy provides grant funds in support of the Bank’s operations through a Technical Cooperation Agreement signed in 1998 and has supported the Bank’s Initiative for Risk Mitigation in Africa since June 2010. IRMA aims to encourage the effective use of extant risk mitigation products as a catalyst for mobilizing investment for infrastructure projects in Africa. The completed initiative was funded for EUR 2.4 million.
- The Infrastructure Consortium for Africa was launched at the G8 Gleneagles summit in 2005. Italy financially supports the scaling up of investment for infrastructure development in Africa from public and private sources.
- The Bank launched the Rural Water Supply and Sanitation Initiative in 2003 to accelerate sustainable access to improved rural water supply and sanitation facilities in Africa, by mobilizing potential resources and leveraging additional investments in the sector while addressing the Millennium Development Goals. Italy supports the RWSSI financially.
- The Italian Government contributed Euros 30 million to support the Sierra Leone Bumbuna Hydropower Project (2004-2009), which is completed and is generating power.