Latest news with #MatteiPlan
El Chorouk
a day ago
- Business
- El Chorouk
Brussels supports Italy's influence in Africa to fill the void left by France
Italian Prime Minister Giorgia Meloni has succeeded in pushing the European Union to support Rome's efforts to enter Africa through the 'Mattei Plan', which began in Algeria and included many sensitive sectors, such as energy, infrastructure, transport, defense, and space. This plan coincided with the decline of French influence in its former stronghold on the African continent. The Italian Prime Minister chaired a summit attended by the President of the European Commission, Ursula von der Leyen, which focused on the 'Mattei Plan'. This project has economic dimensions but also branches out to include other dimensions, including combating migration. Rome believes that the solution to this problem lies in establishing wealth-generating economic projects and job opportunities in Southern Mediterranean countries to reduce migration. This approach is completely contrary to the French approach, which is based on perpetuating the dependence of Southern countries and stealing their wealth under justifications and considerations inherited from the defunct colonial era. In the view of Europeans, the French approach to dealing with Southern countries, based on guardianship and control, has brought many problems to the old continent, including the problem of migration. This policy has led to Paris losing its strongholds in the African continent, in Algeria, the Sahel region, and sub-Saharan countries. This has caused the European Union to lose an old influence, which Brussels is now trying to regain through the Italian 'Mattei Plan', which has been welcomed in many African countries, including Algeria. The 'Mattei Plan' is based on mobilizing 5.5 billion euros for initiatives distributed across 14 countries, in the form of grants, loans, or guarantees over several years, as well as strong partnership projects in the energy sector, as is the case between Algeria's Sonatrach and Italy's Eni, in addition to other projects in the agricultural sector in southern Algeria, as is known. In this regard, Giovanni Carbone, a professor at the University of Milan and head of the Africa program at the Institute for International Political Studies, believes that Italy can diplomatically present itself as a more 'acceptable' entity compared to France to represent European interests, especially in the Sahel countries that have 'closed their doors' to the former colonial power. Meanwhile, a spokesperson for the European Commission told Agence France-Presse (AFP) that 'the Mattei Plan constitutes an important contribution to this European project, which includes funding worth up to 150 billion euros.' For his part, former diplomat and expert in African affairs, Mr. Noureddine Djoudi, said in statements to 'Echorouk' that the historical relations between Algeria and Italy, based on trust, which were established by the late Tayeb Boulahrouf, will help make the 'Mattei Plan' a success. He added that the Algiers-Rome axis, which has been strengthened by the keenness of President Abdelmadjid Tebboune, will make Algeria Italy's gateway to the heart of the African continent, as Paris loses more of its eroding influence. Among the points that will also help advance this plan, says Noureddine Djoudi, are the principles on which Italy's foreign policy is based, which exclude considerations of guardianship and influence from its lexicon, as is the case with France's foreign policy, which has become more exposed than ever before in the African continent. In this context, he referred to the role played by Enrico Mattei, the architect of Italy's relationship with third-world countries, including Algeria, who handed over highly important files to the Provisional Government of Algeria when it was in difficult negotiations with the French authorities for independence. Paris wanted to separate northern Algeria from its oil-rich south, and then keep it as a French province. However, the documents handed over by Mattei to the Provisional Government were sufficient to end the French conspiracy. According to the retired diplomat, the energy cooperation between Algeria and Rome is a fruit of Mattei's historical efforts and the plan of the current Italian government headed by Giorgia Meloni, which is keen to preserve that heavy legacy, from which it reaps much benefit today, and has become an exclusive distributor of Algerian gas to the heart of Europe.
Libya Review
14-06-2025
- Business
- Libya Review
Eni's €8 Billion Plan Aims to Rebuild Libya's Oil Industry
Italy is positioning itself as a major catalyst in reshaping Euro-African energy diplomacy, spearheaded by a bold €8 billion investment plan in Libya led by the Italian oil giant Eni. According to a detailed report by South Africa's Energy Capital & Power, this initiative, dubbed the 'Mattei Plan,' aims to significantly strengthen Italy's economic and strategic ties with Libya, opening new fronts in North African energy cooperation. Under the Mattei Plan, Eni will divert up to €8 billion into Libya's energy infrastructure. The investment targets a major step-change in bilateral relations after decades of instability, channeling funds into oil and gas fields, production facilities, pipeline networks, and transport links. Analysts see the move as part of a broader Italian strategy to secure long-term energy partnerships with southern Mediterranean countries, particularly in light of the EU's drive to reduce reliance on Russian gas. The report highlights the upcoming Libya Energy & Economy Summit in 2026 as a pivotal platform for deepening Libyan-Italian cooperation. The summit is expected to bring together public and private sector leaders to coordinate investment strategies, finalize key projects, and position Libya as a central player in regional energy security. Libya, alongside Algeria and Egypt, forms a critical pillar of Italy's 'Southern Energy Corridor'. With extensive hydrocarbon reserves, Libya plays a central role in Rome's vision for diversifying energy sources and stabilizing its supply chains. Eni has repeatedly emphasized its belief in Libya's untapped potential and its readiness to invest across multiple sectors—including health, education, renewable energy, and infrastructure—to support broader economic growth and stability. The plan includes modernizing downstream facilities, expanding local refining capabilities, and developing transport infrastructure to enable Libya to meet domestic demand and increase export volumes. Italian officials and Eni executives argue that these projects will not only support Libya's economic recovery but also promote regional stability and facilitate increased intra-Mediterranean trade. Tags: EnergyEnigasItalylibyaoilOil Industry
Morocco World
27-05-2025
- Business
- Morocco World
OCP, Italy's Financial Group SACE Announce €365 Million Green Financing Agreement
Rabat – OCP Group has announced the signing of a €365 million agreement with the Italian export credit agency and finance group, SACE. In a statement today, the Moroccan fertilizer giant said that the agreement is the first of its kind under the group's Green Finance Framework and the first guaranteed by SACE Push Strategy in Morocco. 'This strategic partnership reinforces OCP's commitment to sustainability and innovation in plant nutrition solutions,' the statement added, noting that the deal marks a 'historic dual first.' The OCP facility will be supported by an insurance coverage under SACE's Push Strategy and arranged by BNP Paribas and Credit Agricole Corporate and Investment Bank. The push strategy provides Italian companies with access to international markets, offering them financing to foreign counterparts with the potential to purchase goods and services from Italy. The agreement is in line with OCP's $13 billion Green Investment program covering the 2023-2027 period. The agreement will contribute to financing the program, which seeks to enable a complete non-conventional water use since early 2025, including a desalination capacity of 560 million cubic meters per year by 2027. It also seeks to ensure complete water autonomy as well as 100% clean energy by 2027. The OCP mega program further aspires to ensure full carbon neutrality by 2040 and increased production of green fertilizers. Armando Bucacco, Italian ambassador to Morocco, highlighted the importance of the promising agreement. The deal represents a 'significant step in strengthening ties between Italy's industrial excellence and one of Morocco's leading economic players,' Bucacco noted. He added, 'This strategic partnership not only fosters across multiple sectors, reinforcing a strong foundation for bilateral trade and investment.' Karim Lotfi Senhadji, Chief Financial Officer at OCP, echoed the same remarks. For him, the agreement with SACEE reflects OCP's commitment to sustainability and innovation. 'By securing this facility, we are accelerating our transition towards 100% clean energy and 100% non-conventional water, reinforcing our leadership in sustainable plant nutrition solutions,' he explained. SACE's Chief International Officer, Michal Ron, also expressed satisfaction with the deal. This initiative demonstrates the group's commitment to promote 'made in Italy' and supporting Italian companies in key sectors like infrastructure, renewable energy, and industrial machinery, he argued. 'It also reinforces our commercial ties with Africa in alignment with the Mattei Plan,' he added. For his part, head of CIB Africa at BNP Paribas and CEO of BNP Paribas Regional office in Casablanca Finance City, Abdelmadjid Fassi Fihri, said the landmark transaction with OCP has been a 'great opportunity to leverage the expertise of our Corporate and institutional Banking teams in Casablanca, Milan, and Paris in order to deliver state-of-the-art cross-border structured financing supporting the ambitious sustainable trajectory of the kingdom' Andre Gazal, Global Head of ECA & Multilateral Financing Solutions at Crédit Agricole CIB, echoed similar remarks. Through this agreement, he concluded, 'OCP entrusted us to structure this financing which will serve their strategic capex plans, underlying the strong ties built between OCP and Crédit Agricole CIB over the years.' Tags: Morocco's OCP GroupOCP Africa
Zawya
15-05-2025
- Business
- Zawya
Italy affirms Partnership with African Development Bank under the Mattei Plan
Italy has reaffirmed its partnership with the African Development Bank ( and expressed keenness to explore mutual growth opportunities in Africa under the Mattei Plan. Stefano Gatti, Director General for Development Cooperation at the Ministry of Foreign Affairs and International Cooperation (FAIC) and Lorenzo Ortona, Head of the Mattei Plan Task Force led a delegation to the Bank's Abidjan headquarters on Thursday 8 May. The delegation comprised representatives of institutions charged with implementing the Mattei plan for Africa, such as Cassa Depositi e Prestiti(CDP), the Ministry of Finance, as well as important representatives of the business and private sector and civil society organisations. Under the Mattei Plan for Africa, Italy aims to foster economic and strategic partnerships with African nations and institutions. Its Prime Minister Giorgia Meloni has stated that the African Development Bank Group would be ( its main strategic financial partner for implementation of the plan on the continent. The delegation was hosted by African Development Bank Senior Vice President Marie-Laure Akin-Olugbade, who was joined by three vice presidents –Nnenna Nwabufo, Beth Dunford and Kevin Kariuki, as well as several directors from the energy, resource mobilization and finance departments, among others. Participants in the meeting exchanged on ways to strengthen public-private sector collaboration with Italy in reducing hunger and boosting agriculture in Africa. The conversation also discussed the importance of the African Development Fund, the Bank's concessional lending arm in addressing the challenges of the continent's most disadvantaged countries. Akin-Olugbade expressed satisfaction at the progress made since the announcement of the Plan in July 2024, in particular, the Rome Process/Mattei Plan Financing Facility (RPFF), a multi-donor Special Fund aimed at supporting climate aligned sovereign infrastructure projects that help to address the root causes of migration. The RPFF with contributions from Italy and the UAE amounting to over $170 million, is now operational. The senior vice president commended Italy for demonstrating its commitment and thanked the government for its choice of The African Development Bank as partner. 'We appreciate, of course, the choice of the African Development Bank to accompany you in your strategy, very ambitious strategy for the continent. We are really very happy to hear that Italy, indeed, is still strongly committed to the continent, and of course, to working with the African Development Fund.' Other instruments under the Plan with the African Development Bank include the Growth and Resilience Platform for Africa (Graf), and a bilateral co-financing facility. Under Graf, CDP and the African Development Bank intend to invest up to EUR 400 million over five years in private equity funds to accelerate private sector development in Africa. 'We are grateful for the outstanding job that the bank has done. We really appreciate it,' Ortan said. 'We really believe that in order to enhance the Mattei plan in Africa and the visibility of it, we need partners like you.' Concluding the discussions, Akin-Olugbade said the Mattei plan has emerged as a template for future cooperation between Italy and other developed countries and Africa. She said: 'I believe that Italy has seen the African Development Bank, the African Development Fund as trusted partners. I believe we have a good track record of providing and achieving results. There's a leveraging effect that multilateral development banks have that sometime bilateral resources do not have. And we need to take advantage of this.' Italy has been a strong partner to the African Development Fund and pledged EUR 298.88 million to its sixteenth replenishment. Italy has been a partner in Mission 300, as well as advocating for strengthening private sector engagement, especially for youth entrepreneurship. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Arab News
09-04-2025
- Business
- Arab News
Italy's Eni to invest $26bn in North Africa over next 4 years, CEO says
RAVENNA : Italian energy group Eni will invest around €24 billion ($26.24 billion) in Algeria, Libya and Egypt over the next four years to help boost energy production, CEO Claudio Descalzi said on Tuesday. The investments would coincide with the Rome government's efforts to relaunch its economic and political ties with Africa as part of its so-called Mattei Plan. Eni is already a major foreign investor in North Africa's energy sector. Descalzi said the three countries can play an important role as hydrocarbon suppliers for Europe, but need outside investment to expand their energy production and meet rising domestic demand. 'Internal demand in these countries — because of demographic growth — is increasing at about 7-8 percent every year, this means they need gas ... they need investment,' he told an energy conference in the Italian city of Ravenna. In the next four years, Eni will invest more than €8 billion each in Algeria and Libya, and about the same in Egypt, Descalzi said. Egypt had planned to become a major gas exporter after Eni discovered the Zohr offshore gas field there in 2015. However, domestic gas production in the country has been falling since 2021, and reached a six-year low in 2024. Earlier this year, Cyprus and Egypt signed a deal to process the gas coming from Cyprus's offshore fields to Egypt, exported by Eni, for liquefaction and re-export to Europe.
