The African Development Bank has reaffirmed its role as a bridge between Africa and the world, at the 10th Annual Conference on Development Economics, convened by the Italian Society of Development Economists (SITES) and Fondazione Tor Vergata in Frascati, Italy, on September 15-16, 2025.
Speaking during the Conference, held under the theme, "Africa and the Mediterranean: Economic Perspective and Sustainable Development," the Bank Group's Chief Economist and Vice President for Economic Governance and Knowledge Management Prof Kevin Urama said Africa stands at a pivotal juncture in the multipolar world order, with the continent's vast resources, youthful population, and strategic location holding immense potential for shaping its own future and influencing the course of global affairs.
The gathering served as a high-level platform to strengthen economic ties between Africa and the Mediterranean, foster mutual growth and reduce economic disparities. In attendance were leading development economists, policymakers, and researchers from across Africa, Europe, and the Mediterranean region, including representatives from the Bank of Italy, the World Bank Group, Italian government ministries, and development finance institutions (DFIs).
The Mediterranean serves as a link between Africa, Europe, and the Middle East, making it a critical zone for economic cooperation and geopolitical stability.
Prof. Urama contributed to two sessions. The first, "Role of the Piano Mattei for the development of Africa and the Mediterranean regions," examined the Mattei Plan--Italy's strategic partnership approach to African development to foster economic growth, infrastructure development, and regional integration in Africa and the Mediterranean-- highlighting opportunities for collaboration and sustainable development.
In January 2024, during the Italy-Africa Summit, Italian Prime Minister Giorgia Meloni unveiled the Mattei Plan with an initial EUR 5.5 billion of investment in energy, education and agriculture, among others. Meloni told the summit that the African Development Bank Group would be the country's main strategic financial partner for the implementation of the plan.
The second session, "Africa's Growth and Opportunities - A Research Agenda," discussed key insights and opportunities shaping Africa's economic future.
Urama also engaged in a high-level fireside chat with Dr. Indermit Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank Group. The conversation explored the state of multilateral cooperation amid fragmentation, the evolving role of multilateral development banks, and implications for Africa's growth and development.
He highlighted Africa's pivotal standing in the 21st century, on account of its abundant natural resources, youthful population, and strategic location, as well as the immense opportunities that exist for the continent to help create a new multilateral world order defined by innovation, peace and prosperity.
Italian officials reaffirmed Italy's commitment to a successful ADF-17 replenishment, a boost for the Bank's resource mobilization efforts. The African Development Fund (ADF) is the Bank Group's concessional financing window.
For more on the conference, visit: https://www.sitesideas.org/sites-annual-conference-2025.
