The African Development Bank (AfDB) and Italy’s Cassa Depositi e Prestiti (CDP) have signed a partnership agreement to establish the Growth and Resilience Platform for Africa (GRAf), aiming to mobilize up to €750 million for economic development across the continent. The agreement, signed on December 5, 2024, follows a letter of intent from July 2024.
The platform will channel up to €400 million over five years through private equity and venture capital to support projects in food security, small and medium enterprise (SME) growth, and sustainable infrastructure. GRAf also aims to raise an additional €350 million from other sources.
The initiative, part of Italy’s Mattei Plan for Africa, is designed to foster job creation, improve access to essential services, and promote strategic investments across the continent. This collaboration aligns with the AfDB’s focus on energy access, agricultural productivity, and employment creation.
Both institutions aim to provide a unified framework for investment opportunities, targeting projects that can drive long-term, inclusive growth and resilience in Africa.
