Published by Global Banking and Finance Review
Posted on June 20, 2025
3 min readLast updated: January 23, 2026
Italy and EU collaborate on a debt-relief plan for Africa, converting €235M debt into local projects, addressing migration causes.
By Angelo Amante and Giuseppe Fonte
ROME (Reuters) -Italian Prime Minister Giorgia Meloni said on Friday she was working with the European Union on a debt-relief initiative for African states - part of Rome's efforts to help development in Africa and address the root causes of mass migration.
Meloni met European Commission President Ursula von der Leyen, representatives of African nations and international institutions at a summit held at the 17th-century Villa Doria Pamphili in Rome.
"The entire 10-year operation will allow us to convert some 235 million euros ($270.67 million) of debt into development projects to be implemented locally," Meloni said, speaking on the lawn of the villa, with St Peter's dome visible behind her, as she announced the joint EU-Italy debt plan.
Italy is already supporting Africa through another development plan it launched last year, the Mattei Plan for Africa - named after the late Enrico Mattei, who founded state oil company Eni - which aims to support projects in areas including agriculture and energy to spur economic growth in Africa.
The EU launched its Global Gateway investment plan in 2021 as an alternative to China's Belt and Road Initiative.
Right-wing leader Meloni said the issue of African debt was crucial to the continent and risked "undermining all other efforts" for development if not addressed properly.
As part of the new debt plan, she told reporters the goal was to cut by 50% the debt of the low-middle income African nations, without elaborating.
Bilateral deals with Africa involving both Italy and the EU were also announced. Rome said in a statement the "shared commitments towards the African continent" presented at the summit were worth 1.2 billion euros.
"The leaders agreed to review progress of the strategic partnership under the framework of the EU's Global Gateway strategy and the Mattei Plan for Africa at the Global Gateway Forum on 9-10 October 2025 in Brussels," the statement said.
Meloni and Von der Leyen outlined an array of deals already announced including financing for a rail and road corridor linking the Angolan port of Lobito on the Atlantic coastline with Zambia and the Democratic Republic of the Congo, where minerals are mined.
Von der Leyen said the agreements "illustrate how we turn political will and common vision into very concrete decisions, and most importantly reality on the ground."
($1 = 0.8682 euros)
(Reporting by Angelo Amante and Giuseppe Fonte, editing by Susan Fenton)
Italy is working with the European Union on a debt-relief initiative for African states, which aims to convert 235 million euros of debt into local development projects.
The goal of the debt relief plan is to cut the debt of low-middle income African nations by 50%, according to Prime Minister Giorgia Meloni.
Italy is also supporting Africa through the Mattei Plan for Africa, which was launched last year and aims to enhance development efforts on the continent.
The EU's Global Gateway investment plan, launched in 2021, serves as an alternative to China's Belt and Road Initiative, focusing on infrastructure and development in partner countries.
At the summit, agreements were made regarding financing for infrastructure projects, including a rail and road corridor linking Angola's Lobito port with Zambia.
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