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.
- 07/12/2018 Europe’s Future Lies in the South and not the North, says Italian Finance Minister at Africa Conference
- 06/12/2018 Speech Delivered by President Akinwumi A. Adesina Joint Interactive Session with the Minister of Finance of Italy, Giovanni Tria, at the Ministry of Finance, Rome, Italy, 6th December 2018
- 27/08/2018 Unlocking Africa’s Agricultural Potential to Create Wealth
- 20/08/2018 African Development Bank President Akinwumi Adesina to deliver public lectures at FAO in Rome and at Wageningen University & Research, Netherlands.
- 30/05/2018 Italy ramps up support for Somalia’s infrastructure, contributes €1 million to Somalia Infrastructure Fund