Ideas for Impact: Partnering to Boost Africa's Prosperity
Good ideas matter for development—and they’re especially necessary in Africa, which accounts for two-thirds of all people living in extreme poverty.
On November 8, 2024, the Bank of Italy hosted the conference Italy and the World Bank Group: Partnering for Africa's Prosperity, organized in collaboration with the World Bank and Italy's Ministry of Economy and Finance. The event focused on policies that will be needed to accelerate sustainable development across Africa, by addressing key challenges and supporting inclusive economic growth.
Through the conference, the Italian government and the World Bank Group reaffirmed their strategic partnership to support job creation and improve access to energy and basic services across the continent. The event also set the stage for introducing the Institute for Economic Development to conference participants, including country representatives from Africa, officials from the Bank of Italy and the Italian government, and participants from partner institutions based in Rome.
World Bank Group president Ajay Banga joined the opening session with Giancarlo Giorgetti, Italy's Minister of Economy and Finance; Denny Kalyalya, Governor of the Bank of Zambia; and Lesetja Kganyago, Governor of the South African Reserve Bank. He outlined development priorities for Africa and said the Institute for Economic Development, with its Rome hub, would serve as a collaborative space for debate and innovative solutions to advance regional progress.
"I believe that not only are we a money Bank, but the most value we bring is (as) a knowledge Bank," Banga said.
World Bank Group Chief Economist Indermit Gill also addressed the gathering. He shared key policy insights from the World Development Report 2024: The Middle-Income Trap, which outlines how countries can transition from middle- to high-income status. Gill also presented the Institute’s mission and approach to conference participants, emphasizing its role in generating new ideas, fostering partnerships, knowledge exchange, and learning to drive development across Africa.
"The Bank of Italy is playing a crucial role in making the World Bank’s Rome office a center for disseminating policy ideas that can drive progress in Africa. Our new Institute for Economic Development will be instrumental in this effort." – Indermit Gill, World Bank Group Chief Economist and Senior Vice President for Development Economics.
Through its strategic Mediterranean location, the Institute’s hub in Rome will strengthen collaboration with think tanks and researchers in Africa, the Middle East, and Europe, to close knowledge gaps, address pressing development challenges, and generate new ideas for impact.
Learn more about the Institute’s partnership opportunities and upcoming events.
