Business
AfDB champions Mattei Plan, Global Gateway to boost Africa’s industrial growth
African Development Bank (AfDB) President Dr. Akinwumi Adesina has reaffirmed the Bank’s pivotal role in driving Africa’s industrialization, connectivity, and regional integration through investments aligned with Italy’s Mattei Plan and the European Union’s Global Gateway initiative.
Speaking at the joint Mattei Plan–Global Gateway Summit held in Rome on June 20, Adesina highlighted the Bank’s progress in translating strategic goals into action across infrastructure, energy, digital connectivity, and regional value chains. He called for faster implementation and greater coordination among global partners to deepen impact.
Adesina spotlighted key projects like the Lobito Corridor—where the AfDB has committed $1 billion over five years to value chain and infrastructure development—and the $3.9 billion Tanzania–DRC–Burundi railway, both designed to transform trade routes and promote inclusive green growth.
The Lobito Corridor, spanning Angola, Zambia, and the Democratic Republic of Congo, is a strategic trans-African route for minerals, goods, and people, and a central focus of new cooperation frameworks under the Mattei Plan and Global Gateway.
Italy’s Mattei Plan, launched in 2024, seeks equal partnerships with African countries across energy, agriculture, and migration. The EU’s €300 billion Global Gateway aims to mobilize €150 billion for African infrastructure and innovation.
Adesina emphasized the operationalization of the Rome Process/Mattei Plan Financing Facility—hosted by the AfDB—which has already launched its inaugural Governing Council and approved a pipeline of projects across energy, water, and transport sectors.
“We’ve established a Special Fund to fast-track these projects, and our first evaluations are already underway,” Adesina said.
He noted that the AfDB has invested over $55 billion in infrastructure over the past decade, making it the largest financier of regional transport corridors in Africa.
European Commission President Ursula von der Leyen reinforced the EU’s commitment, stating: “Africa is a continent of abundance—what’s missing is connectivity.” Italian Prime Minister Giorgia Meloni echoed the collaborative spirit of the summit, calling the initiatives “concrete projects shaped through dialogue.”
Adesina also highlighted “Mission 300,” a joint AfDB–World Bank initiative aiming to connect 300 million Africans to electricity. He revealed ongoing negotiations with the European Commission for a €165 million renewable energy package under the program.
He urged global donors to support the upcoming 17th replenishment of the African Development Fund, the Bank’s concessional financing arm, to sustain progress under the Mattei Plan and Global Gateway.
In a related development, the AfDB signed a Letter of Intent with Zambia to advance the Lobito Corridor, including the construction of 550 km of railway from Chingola to the Angolan border and the upgrade of 260 km of roads between Chisese and Jimbe.
The initiative builds on a broader MoU between the AfDB, Zambia, Angola, DRC, and international partners including the EU, Italy, the United States, and the Africa Finance Corporation, aiming to boost regional trade and integration.
