Scannapieco aims for €2 billion in development cooperation by 2026, with 70% focused on Africa

The Cassa Depositi e Prestiti (CDP) is experiencing a significant increase in its financial commitments toward development cooperation, particularly geared towards African nations. According to a media source, Dario Scannapieco, the CEO of CDP, announced during his testimony before the Foreign Affairs Committee of the Italian Chamber of Deputies that expenditures are projected to rise from approximately 200 million euros in 2021 to an estimated 2 billion euros by 2026. However, he advised that this target remains optimistic, reflecting the challenges associated with such ambitious goals.

The emphasis on Africa aligns closely with Italy’s foreign policy directives and the objectives outlined in the Mattei Plan, a strategic initiative aimed at fostering development cooperation in Africa. By 2026, around 70% of CDP’s mobilized resources are anticipated to be allocated toward the African continent, a considerable increase from the 44% directed to Africa in 2025, which totaled 1.54 billion euros in overall funding.

These ambitious projections are attributed to a strengthening of CDP’s operational capabilities. According to Scannapieco, the financial institution has expanded its toolkit through various mechanisms, including the Italian Climate Fund, blending financial resources from European sources, and a newly established Africa fund. This strategic expansion is complemented by the creation of a dedicated department within CDP, which has enhanced the institution’s impact as a vital player in Italy’s development cooperation framework.

Moreover, the CDP has already established a strong physical presence in Africa, with operational regional hubs located in Rabat, Cairo, and Abidjan. An additional office is set to open in Nairobi, reinforcing the organization’s commitment to fostering economic development across diverse regions of Africa.

As CDP aims to boost investment and development efforts in Africa, the strategic alignment with government policies and the establishment of dedicated operational infrastructure signal a proactive approach to international collaboration and support for sustainable development in the region.

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