Latest news with #MatteiPlanforAfrica
El Chorouk
6 days ago
- Business
- El Chorouk
Sixth Algerian-Italian Summit To Be Held Soon in Rome
The sixth high-level bilateral summit between Italy and Algeria will soon be held in Rome, the Italian Ambassador to Algeria, Alberto Cutillo, said. Ambassador Cutillo emphasised that Algeria 'has been and will remain a distinguished partner for his country.' He described the relationship between the two countries as 'a true friendship that remains alive even in the most difficult moments.' He confirmed that the Italian-Algerian relationship is based on dialogue, mutual trust, shared roots, and a unified vision for the future. He noted that Algeria plays a pivotal role within the framework of the Italian government's Mattei Plan for Africa. The Italian diplomat's announcement was made during a celebration organised by his country's embassy in Algiers on Monday evening to mark the 79th anniversary of the founding of the Italian Republic, 'Republic Day'. The ceremony was held at the ambassador's residence. It was attended by the Minister of Industry, Sifi Ghrieb, and the Vice-Presidents of the National People's Assembly and the Council of the Nation, Monder Bouden and Rabah Baghali, along with some ambassadors and diplomats accredited to Algeria, representatives of the Italian community, and Italian institutions active in Algeria. The Italian ambassador noted that the sixth bilateral summit between Algeria and Italy will be held in Rome, adding that it will be organised in light of the two countries' desire to build an equal partnership based on mutual respect and shared benefit. In his address, Cutillo recalled that on June 2, 1946, the Italian people elected a republic, which represents a powerful symbolic milestone. For the first time, Italian women were called to the polls. He described it as 'a day of freedom, democracy, and participation that continues to inspire the present and the future.' The ambassador also highlighted Algeria's pivotal role within the framework of the 'Mattei Plan for Africa' in strengthening the partnership between the two shores of the Mediterranean, emphasizing that this initiative represents a model of 'an equal partnership that imposes nothing, but is built jointly, based on respect and mutual benefit.' He concluded that the areas of energy, innovation, infrastructure, culture, training, and agriculture represent the pillars of bilateral cooperation, supported by tangible dynamism from institutions, universities, and civil society in both countries.
Ya Biladi
28-05-2025
- Business
- Ya Biladi
OCP and SACE sign €365M green financing deal to boost sustainability in Morocco
The OCP Group and SACE, an Italian insurance and finance group controlled by Italy's Ministry of Economy and Finance, announced on Tuesday the signing of a green financing agreement worth €365 million. This is the first financing secured under OCP's Green Finance Framework and marks the first transaction guaranteed in Morocco as part of SACE's Push Strategy. According to a joint statement, this partnership reinforces OCP's commitment to sustainability and innovation in plant and soil nutrition solutions. The financing, structured as an untied export credit, is backed by comprehensive insurance coverage under SACE's Push Strategy and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB). In line with OCP's Green Finance Framework, the funds will support the company's $13 billion green investment program for 2023–2027. This includes a goal to rely 100% on non-conventional water sources by early 2025, reaching a desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy. The program also aims to achieve 100% clean energy use by 2027, complete carbon neutrality by 2040 (with Scopes 1 and 2 by 2030, and Scope 3 by 2040), and a significant increase in green fertilizer production to support sustainable agriculture and global food security. Beyond financing, the agreement also opens new business opportunities for OCP Group and Italian suppliers through business matchmaking initiatives organized by SACE. SACE's Push Strategy is designed to support Italian export opportunities in strategic sectors of the Mattei Plan for Africa, such as green technologies, as well as mechanical and hydraulic components. Armando Barucco, Italy's ambassador to Morocco, welcomed the initiative as a boost to economic collaboration, unlocking new opportunities across multiple sectors and consolidating a solid foundation for trade and bilateral investments. Michal Ron, SACE's international director, described the Push Strategy as a key tool for creating new export opportunities, particularly for SMEs. For his part, Karim Lotfi Senhadji, OCP's Chief Financial Officer, emphasized the importance of the partnership in accelerating the transition to 100% clean energy and 100% non-conventional water, with the aim of securing OCP's leadership in sustainable plant nutrition solutions.
Zawya
25-02-2025
- Business
- Zawya
Italy's SACE to provide $350mln to two UAE companies for Africa infrastructure projects
SACE, Italy's state-owned export credit agency (ECA), has signed agreements with two UAE-headquartered companies to support renewable energy, water infrastructure, and sustainability projects in Africa while opening up opportunities for Italian exports. The agreements, aligned with Italy's Mattei Plan for Africa, were formalised during the Italy-UAE Business Forum in Rome. Under the two agreements, SACE will provide financial and insurance solutions worth a combined $350 million, on tied and untied basis, to the two companies to support Italian exports to Africa and the UAE and the international expansion of Italian companies. The agreements also aim to enhance procurement from Italy through untied loans guaranteed by SACE though Push Strategy facilities as well as through traditional export credit insurance. SACE will provide $250 million to AMEA Power to support projects in renewable energy production, desalination, green ammonia and green hydrogen projects. The ECA will provide $100 million to Metito Utilities for projects related to water supply, desalination, wastewater treatment, irrigation and waste-to-energy solutions in Africa, the UAE and other suitable areas. (Writing by SA Kader; Editing by Anoop Menon)
Zawya
11-02-2025
- Business
- Zawya
Italy aspires to be bridge between Tunisia and Europe
Tunisia - Italy aspires to be a bridge between Tunisia and Europe, Italy's ambassador in Tunis Alessandro Prunas said, adding that his country recognises the role that Tunisia can play as a bridge between Italy and Africa. In an interview with TAP's TV studio, the diplomat underlined the importance of bilateral partnership in serving the interests of the two countries and their two friendly peoples, pointing out that bilateral relations have existed for several years and are constantly reinforced thanks to close cooperation in various fields. In this connection, the Italian ambassador drew attention to the recent exchange of visits by senior officials from the two countries, focusing on a number of issues of shared interest. The diplomat, who handed over his credentials to President Kaies Saied on February 9, 2024, three days after his arrival in Tunis, highlighted the deep-rooted bilateral relations between the two countries, recalling the participation of the President of the Republic in the Italy-Africa summit held in Rome in January 2024. At that summit, he said, President of the Italian Council of Ministers Giorgia Meloni had launched the Mattei Plan for Africa, a plan to mobilise the public and private sectors towards the African continent, in order to establish partnerships between friendly countries. Italy plans to step up its economic presence in Tunisia The value of trade between Tunisia and Italy had stood at TND 21 billion by 2024, revealed the dipolomat. Italy is thus Tunisia's second-largest economic partner, and the second-largest export destination for Tunisian products, he added. The economic sector is one of the pillars of bilateral cooperation, he indicated, underlining that almost a thousand Italian companies operate in Tunisia, not only in the traditional textile sector but also in other sectors, including agriculture and mechanical engineering. Italian companies also provide nearly 80,000 direct jobs thanks to the various activities launched in Tunisia, in addition to the number of indirect jobs created, the ambassador recalled. With regard to the social impact of Italy's actions in Tunisia, Alessandro Prunas pointed to the signing by the two countries' foreign ministers of a political declaration recognising Italy's priority commitment to Tunisia, doubling the financial effort earmarked for development projects carried out in close bilateral collaboration. The presence of Italian cooperation in Tunisia is historic, the Italian ambassador reiterated, citing the Rejim Maatoug project in south-western Tunisia, which has led to the planting of 2,500 hectares of oases, giving hope to nearly 13,000 people who have been able to access the economic resources generated by these oases, in addition to making an environmental contribution by helping to combat desertification. © Tap 2022 Provided by SyndiGate Media Inc. (
