Italy and the European Union are collaborating on a comprehensive debt-relief initiative for Africa that will convert $270 million in debt into local development projects over the next decade. This plan is Italy’s second initiative in support of Africa, following the Mattei Plan for Africa, which focuses on boosting agriculture, energy, and infrastructure to curb irregular migration and drive inclusive growth. Similarly, the EU has another initiative in support of Africa, the Global Gateway strategy. Italian Prime Minister Giorgia Meloni revealed that the debt-relief plan will cut the debt burden of Africa’s low to middle-income countries by up to 50%, warning that unaddressed debt could derail development efforts. Leaders will…
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