The African Development Bank reaffirmed its role as a bridge between Africa and the global community during the 10th Annual Conference on Development Economics, hosted by the Italian Association of Development Economists (SITES) and Tor Vergata Foundation in Frascati, Italy, on September 15 and 16, 2025.
Professor Kevin Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management at the bank, emphasized in his keynote address that Africa stands at a pivotal point within a multipolar global system. He highlighted the continent’s vast resources, youthful population, and strategic location as key assets enabling it to shape its own future and influence global developments.
Held under the theme “Africa and the Mediterranean Region: An Economic Perspective and Sustainable Development,” the conference served as a high-level platform to strengthen economic linkages, promote mutual growth, and reduce regional disparities. It brought together leading development economists, policymakers, and researchers from across Africa, Europe, and the Mediterranean, including representatives from the Bank of Italy, the World Bank Group, Italian government ministries, and various development finance institutions.
The Mediterranean Sea acts as a crucial connector between Africa, Europe, and the Middle East, positioning it as a vital zone for economic cooperation and geopolitical stability.
Professor Urama participated in two sessions. The first, titled “The Role of Piano Mattei in Developing Africa and the Mediterranean Region,” examined Italy’s strategic partnership initiative for African development. Piano Mattei aims to boost economic growth, infrastructure development, and regional integration across Africa and the Mediterranean, spotlighting avenues for sustainable collaboration.
In January 2024, during the Italy-Africa Summit, Prime Minister Giorgia Meloni unveiled Piano Mattei with an initial investment of 5.5 billion euros focused on energy, education, agriculture, and other sectors. Meloni confirmed that the African Development Bank would serve as Italy’s primary financial partner in implementing the plan.
The second session, “Africa’s Growth and Opportunities – A Research Agenda,” explored key insights and emerging prospects shaping the continent’s economic trajectory.
Urama also engaged in a high-level side dialogue with Dr. Indramani Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank Group. Their discussion centered on multilateral cooperation amid global fragmentation, the evolving role of multilateral development banks, and the implications for Africa’s growth and development.
Dr. Gill underscored Africa’s central role in the 21st century, citing its abundant natural resources, young demographic profile, strategic geography, and immense potential to contribute to a new, innovative, peaceful, and prosperous multipolar world order.
Italian officials concluded by reaffirming their commitment to the successful completion of the 17th replenishment cycle of the African Development Fund (ADF-17), reinforcing the bank’s resource mobilization efforts. The African Development Fund (ADF) serves as the concessional lending arm of the bank group.
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The African Development Bank strengthens economic cooperation between Africa and the Mediterranean region
The African Development Bank reaffirmed its role as a bridge between Africa and the world during the 10th annual conference on development economics, organized by the Italian Association of Development Experts (SITES) and the Tor Vergata Foundation in Frascati, Italy, on September 15 and 16, 2025.
In his speech at the conference, held under the theme “Africa and the Mediterranean Region: An Economic Perspective and Sustainable Development,” Professor Kevin Urama, Chief Economist and Vice President of the Bank Group for Economic Governance and Knowledge Management, said Africa stands at a pivotal juncture in a multipolar global system, with the continent possessing vast resources, a young population, and a strategic location, offering immense potential to shape its future and influence global affairs.
The conference served as a high-level platform to strengthen economic ties between Africa and the Mediterranean region, encourage mutual growth, and reduce economic disparities. The event brought together a select group of development economics experts, policymakers, and researchers from across Africa, Europe, and the Mediterranean, including representatives from the Bank of Italy, the World Bank Group, Italian government ministries, and development finance institutions.
The Mediterranean represents a vital link between Africa, Europe, and the Middle East, making it a key region for economic cooperation and geopolitical stability.
Professor Urama contributed to two sessions. The first session, titled “The Role of Piano Mattei in the Development of Africa and the Mediterranean Region,” addressed the Piano Mattei initiative, representing Italy’s strategic partnership approach to African development, aimed at boosting economic growth, infrastructure development, and regional integration in Africa and the Mediterranean, highlighting opportunities for cooperation and sustainable development.
In January 2024, during the Italy-Africa Summit, Prime Minister Giorgia Meloni announced Piano Mattei with an initial investment of 5.5 billion euros in energy, education, agriculture, and other sectors. Meloni confirmed at the summit that the African Development Bank Group would be the country’s main strategic financial partner in implementing the plan.
The second session, titled “Africa’s Growth and Its Opportunities – A Research Agenda,” discussed key insights and opportunities shaping its economic future.
Urama also participated in a high-level side dialogue with Dr. Indramani Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank Group. The dialogue addressed the state of multilateral cooperation amid fragmentation, the evolving role of multilateral development banks, and the implications for Africa’s growth and development.
Dr. Gill highlighted Africa’s central position in the 21st century, thanks to its abundant natural resources, young population, strategic location, and vast opportunities for the continent to contribute to building a new, innovative, peaceful, and prosperous multipolar global system.
Finally, Italian officials reaffirmed Italy’s commitment to the success of the seventeenth replenishment process of the African Development Fund (ADF-17), strengthening the bank’s efforts in mobilizing resources. The African Development Fund (ADF) is the Bank Group’s window for concessional financing.