Welcome to our blog, where we are thrilled to share exciting news and initiatives in the field of global infrastructure and investment. Colleagues, friends, and representatives of the Italian and US private sector, gather round as we dive into the Partnership for Global Infrastructure and Investment, a strategic project launched within the G7.
This initiative is dedicated to supporting the development and economic growth of the most fragile nations, particularly in Africa and Asia. Two years ago, the PGII captured our hearts with its approach that aligns with the Mattei Plan for Africa. This plan, led by Italy in collaboration with African nations, aims to foster quality investments and large-scale projects in infrastructure, energy, and production.
Furthermore, we see the PGII, the Mattei Plan, and the Global Gateway as the three pillars of a groundbreaking G7 strategy to establish a new model of partnership with African nations. Our goal is to create synergies and coordinated activities among these initiatives to maximize efforts and investments for the benefit of all.
A significant step in this collaboration is Italy’s decision to contribute to one of the strategic projects of the PGII – the “Lobito Corridor”. This vital infrastructure system aims to connect Angola to Zambia through the Democratic Republic of the Congo, bridging regional markets with global opportunities.
Moreover, we are elevating the strategic profile of the PGII by establishing a Secretariat within the G7 to enhance implementation and coordination among partners. Collaboration and coordination are key elements for the success of our interventions with African nations.
To accelerate the implementation of these initiatives, pooling financial resources is essential. We are proud to announce the establishment of innovative financial instruments in collaboration with the African Development Bank, open to contributions from those interested in developing co-investment strategies.
In addition, we are supporting the Virtual Platform for Investments in Africa to enhance transparency and public policies on investments in the continent. This platform aims to unlock the potential of African nations, particularly through a continental free trade area.
Africa is a continent of immense potential that deserves to be nurtured and uplifted. Through collaboration and peer-to-peer partnerships, we aim to build new development opportunities and grow together. We are committed to turning our intentions into tangible results, creating jobs, and impacting communities positively.
We hope that this meeting sparks new synergies, opportunities, and concrete answers. Now, we eagerly await the words of President Joe Biden to continue this journey of partnership and progress. Thank you.
