Italy to Provide €250 Million to Africa Finance for Energy, Rail
Representatives pose for a picture before the 'The Mattei Plan for Africa and the Global Gateway: A common effort with the African Continent' summit at Villa Doria Pamphilj in Rome, on June 20.
Photographer: Massimo Valicchia/NurPhoto/Getty Images
Italian institutions will provide as much as €250 million ($288 million) to Africa Finance Corp. to boost the European nation’s participation in supply chains related to critical minerals and renewable energy.
State lender Cassa Depositi e Prestiti SpA will provide the 10-year loan facility, with Italian export-credit agency SACE covering as much as 80% of the amount, they said in an emailed statement.