The African Development Bank reaffirmed its role as a key bridge between Africa and the world during the 10th Annual Conference on Development Economics, organized by the Italian Society of Development Economists and Fondazione Tor Vergata in Frascati, Italy, on September 15–16, 2025. The conference was held under the theme “Africa and the Mediterranean: Economic Perspective and Sustainable Development” and brought together policymakers, researchers, and economists from Africa, Europe, and the Mediterranean region.
In his address, Prof. Kevin Urama, the Bank Group’s Chief Economist and Vice President for Economic Governance and Knowledge Management, emphasized that Africa stands at a critical juncture in the multipolar world order. He noted that the continent’s vast natural resources, young population, and strategic location provide immense opportunities for shaping its own future and influencing global dynamics. The Mediterranean’s role as a vital link between Africa, Europe, and the Middle East was also highlighted as a key factor in strengthening economic cooperation and ensuring regional stability.
Prof. Urama contributed to two sessions during the gathering. The first explored Italy’s Mattei Plan, a strategic partnership initiative designed to foster economic growth, infrastructure development, and regional integration in Africa and the Mediterranean. Originally launched in January 2024 by Italian Prime Minister Giorgia Meloni with an initial €5.5 billion investment, the plan focuses on sectors such as energy, education, and agriculture, with the African Development Bank positioned as Italy’s main financial partner in its implementation. The second session focused on Africa’s growth opportunities and future research priorities, underscoring the potential for sustainable development across the continent.
Urama also participated in a fireside chat with Dr. Indermit Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank Group. Their discussion addressed the challenges of multilateral cooperation in an increasingly fragmented global environment, the evolving role of development banks, and the implications for Africa’s future growth. Urama stressed Africa’s pivotal standing in the 21st century, highlighting its potential to drive a new multilateral order centered on innovation, peace, and prosperity.
Italian officials used the occasion to reaffirm their support for a successful replenishment of the African Development Fund’s 17th cycle, recognizing its importance for resource mobilization. Through these engagements, the African Development Bank reinforced its commitment to advancing economic cooperation between Africa and the Mediterranean while promoting sustainable development and stability across the region.
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