Italy and African Development Bank sign $420 mln co-financing deal

RABAT, Dec 5 (Reuters) – Italian state lender CDP and the African Development Bank (AfDB) signed on Thursday a co-financing deal worth 400 million euros ($420 million) to promote climate finance, sustainable farming, education and technical assistance, AfDB’s vice president for finance Hassatou Diop N’Sele said.

The deal, signed during the AfDB’s Africa Investment Forum in Rabat, is part of Italy’s 6 billion euro Mattei plan to boost African development, she said.

“We want to mobilize capital across Africa using African funds basically accelerating equity,” Paolo Lombardo head of CDP’s international cooperation and development finance director said at the signing ceremony.

($1 = 0.9494 euros) (Reporting by Ahmed Eljechtimi Editing by Mark Potter)

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