Not only duties: from Giorgetti to Panetta, the Mattei Plan at the centre of the IMF's spring meetings
The Economy Minister from Washington stressed that 'Africa's challenges require action, not words. The partnership with the World Bank ensures that the Mattei Plan makes a concrete impact quickly".
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The annual meeting is eagerly awaited by the financial community. The spring meetings of the International Monetary Fund and World Bank Group are attended by central bankers, finance and development ministers, private sector executives, civil society representatives and academics. It is an opportunity to discuss the state of the global economy and issues of international concern, such as growth prospects, financial stability and poverty reduction. The 2025 edition was staged in Washington from Monday 21 April to Saturday 26 April. Alongside the central theme of the customs war unleashed by US President Donald Trump, attention was also focused on the Mattei Plan for Africa, presented early last year at the Italy-Africa summit by Prime Minister Giorgia Meloni to 46 African countries and 25 multilateral institutions.
Agreement with the World Bank for Sustainable Development in Africa
Italy and the World Bank have in fact signed an agreement for sustainable development in Africa, supplementing the country's recent contributions to multilateral development and increasing its financial support to Ida, the arm of the World Bank that assists low-income countries, by 25%. The co-financing agreement, it was made clear in a World Bank note, accelerates the Mattei Plan for Africa, "Italy's flagship initiative to promote equitable growth through investments in energy, infrastructure and human capital". "Africa's challenges require actions, not words," stressed Economy Minister Giancarlo Giorgetti, "This partnership ensures that the Mattei Plan will produce a concrete impact quickly. In Washington, the head of the Mef met with his American counterpart, Scott Bessent.
Panetta: Mattei Plan promotes development and reduces poverty
But the Mattei Plan was also referred to by the governor of the Bank of Italy, Fabio Panetta. Speaking at the 111th meeting of the Development Committee of the World Bank and IMF in Washington, Panetta explained that "Italy's Mattei Plan for Africa aims to promote development and reduce poverty through concrete investment projects, along with a renewed relationship with African countries based on cooperation, shared interests, and mutual benefits". "The plan," Bankitalia's governor added, "aims to attract investment, create jobs, and strengthen supply chains, focusing on education, agriculture, health, energy, and water. In this context, Italy is providing additional co-financing for key infrastructure projects, such as the Lobito corridor and the Wbg. The African Development Bank's Mission 300 initiative will bring affordable energy to 300 million Africans by 2030. The expansion of the Wbg's Rome office should help improve knowledge sharing and projects in line with the plan's objectives. This should include the relocation of dedicated Ifc business development staff to Rome,' Panetta points out. 'It is crucial to strengthen the partnership between the WbG and the European Commission in Africa to maximise impact and efficiency. This partnership can leverage the Eu Global Gateway initiative to mobilise additional resources, ensure better coordination and enhance measures essential investment projects," Panetta concluded.
