MILAN, Nov. 12 (Class Editori) -- CDP has launched its first platform to support companies in the African continent. The initiative, in collaboration with the Africa Development Bank, was presented in Johannesburg. Archiplagos, the name of the platform, is part of the new European Commission's external investment plan and is the first CDP project in this framework.
The European plan, it should be remembered, consists of three pillars: the financial pillar, with its European Fund for sustainable development worth 4.1 billion euros; technical assistance to help beneficiaries develop financially bankable and achievable projects; as well as political dialogue, to help improve the investment climate and the business environment in partner countries.
CDP and Afdb will develop innovative financial instruments dedicated to the best companies selected in the Archipelagos platform, activating 30 million guarantees granted by the European Commission under the Plan for external investments. These resources will make it possible to mobilize 150 million public and private investments, potentially 11 African countries, supporting over 1,500 local SMEs, contributing to the creation of 50,000 new jobs. The main objective is to create conditions for the dimensional development of African companies with growth potential and to promote interconnection with the Italian and European markets. A plan therefore complementary to the cooperation initiatives in third countries in the Belt and Road Initiavie.
The program is divided into two phases: at first the companies with the greatest potential will be selected, to access highly qualified managerial training programs. In the second phase, the best companies will have access to innovative sources of funding such as Basket Bonds, recently launched in Italy by Cassa Depositi e Prestiti.
"We believe that Archipelagos can be a valuable tool to trace the route to achieving the goals of the UN 2030 Agenda, supporting partner companies in ambitious growth paths towards new horizons of sustainability, innovation and competitiveness", explained Antonella Baldino, Chief International Development Finance Officer of CDP.
(Source:Class Editori)
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