Rome, February 13^th 2025 – Cassa Depositi e Prestiti (CDP), Italy’s development finance institution, and the Islamic Development Bank Group (IsDB Group) have signed a Memorandum of Understanding (MoU), marking the first collaboration initiative between the two financial institutions.

The agreement, signed at CDP’s Headquarters in Rome by Dario Scannapieco, Chief Executive Officer of CDP and H.E Dr. Muhammad Al Jasser, Chairman of Islamic Development Bank Group, establishes a strategic framework for cooperation in international development finance.It aims to support projects with high economic, social and environmental impact in emerging markets and developing countries, particularly in Africa, also in line with the Italian Government’s Mattei Plan.

The partnership between CDP and IsDB Group will focus on strategic areas for economic growth including knowledge-sharing,  co-financing and co-investment opportunities in sectors such as climate and environmental sustainability, energy access, food security, agriculture, sustainable infrastructure and private sector development, with particular attention on supporting SMEs and local job creation. It also defines ways to foster the promotion of Italian businesses’ engagement in IsDB Group member countries, by facilitating access to opportunities and disseminating information on procurement processes, and to support gender and youth empowerment initiatives. The collaboration will target key regions where both CDP and IsDB Group operate, ensuring a tailored approach to development efforts primarily in Africa, as well as in other regions including Central and Southeastern Asia.

The MoU originates from the collaboration initiated during the Riyadh COP16 side event between the Arab Development Banks and the Italian financial institutions and it follows the agreements finalized in occasion of the Italian Government’s official mission which took place in Al Ula last January 26^th.

“The partnership with the Islamic Development Bank Group represents a significant step forward in CDP’s international development cooperation strategy. Mutual cooperation in strategic sectors is a key driver of impact. By combining joint efforts and knowledge sharing we can amplify the scope of our initiatives, supporting sustainable and inclusive economic growth in key Regions, particularly Africa in line with the Italian’s Government Mattei Plan, while benefiting Italian companies”, Dario Scannapieco, CDP CEO, has declared.

IsDB Group Chairman, Dr. Muhammad Al Jasser emphasized “Partnerships have always been a cornerstone of the IsDB Group’s mission. As we navigate the evolving development landscape, I am committed to setting an ambitious yet adaptable co-financing framework that enhances collaboration between our institutions. By aligning our efforts, we can maximize impact, drive sustainable development, and effectively address the growing needs of our member countries.”

About CDP

Cassa Depositi e Prestiti S.p.A. (CDP) is Italy’s Financial Institution for International Development Cooperation and the country’s National Promotional Institution. It supports projects that foster economic growth, innovation, and sustainability, both domestically and internationally.