AfDB Strengthens Economic Cooperation Between Africa and the Mediterranean
The African Development Bank (AfDB) reaffirmed its role as a bridge between Africa and the world at the 10th Annual Conference on Development Economics, hosted by the Italian Society of Development Economists (SITES) and Fondazione Tor Vergata in Frascati, Italy, on 15–16 September 2025.
Held under the theme “Africa and the Mediterranean: Economic Perspective and Sustainable Development”, the conference convened leading economists, policymakers, and researchers from Africa, Europe, and the Mediterranean region, including representatives from the Bank of Italy, the World Bank Group, Italian government ministries, and other development finance institutions.
Speaking at the event, AfDB Chief Economist and Vice President for Economic Governance and Knowledge Management, Prof Kevin Urama, emphasised Africa’s pivotal position in a multipolar world. He noted that the continent’s vast natural resources, youthful population, and strategic location provide enormous potential to shape its future and influence global affairs.
Prof. Urama participated in two key sessions. The first, “Role of the Piano Mattei for the development of Africa and the Mediterranean regions,” examined Italy’s Mattei Plan, a strategic partnership aimed at fostering African development through investment in infrastructure, energy, education, and agriculture.
Italian Prime Minister Giorgia Meloni announced the plan in January 2024 at the Italy-Africa Summit, committing EUR 5.5 billion and naming the AfDB as its main strategic financial partner.
In the second session, “Africa’s Growth and Opportunities – A Research Agenda,” discussions focused on emerging opportunities and insights shaping Africa’s economic trajectory. Prof. Urama also engaged in a fireside chat with Dr Indermit Gill, Chief Economist at the World Bank Group, exploring the role of multilateral cooperation amid global fragmentation and the evolving function of development banks.
Italian officials reaffirmed Italy’s support for a successful ADF-17 replenishment, enhancing AfDB’s resource mobilisation efforts through its concessional financing window, the African Development Fund.
The conference highlighted the importance of economic cooperation between Africa and the Mediterranean as a pathway for sustainable development, regional integration, and shared prosperity.
For more information, visit: SITES Annual Conference 2025.
