Italy’s Prime Minister, Giorgia Meloni, addressed the 39th African Union summit in Addis Ababa, highlighting Italy’s plans to strengthen Europe–Africa cooperation.
Meloni said, “True cooperation…exists only in a relation between equals. If you look down on someone, you cannot cooperate with them.” She announced a debt conversion programme under Italy’s Mattei Plan, aiming to turn debt of the most vulnerable African nations into long-term investments.
“We have introduced specific debt suspension clauses…allowing African nations affected by extreme weather events to free up fiscal space to help their populations and rebuild essential infrastructure,” Meloni said.
Meloni added, “Italy and Europe cannot think about the future without taking Africa into proper consideration because our future also depends on yours.”
Key developments:
• Italy to convert debt from fragile African states into development investments.
• Introduction of debt suspension clauses in bilateral loans following extreme weather events.
• Increased support for funding linked to the World Bank’s IDA programmes.
• Focus on stabilisation efforts in regions affected by conflict, including Sudan and the Democratic Republic of the Congo.
Analysts caution that debt relief alone may not ensure sustainable growth without domestic economic reforms.
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