From education to infrastructure, in its role as managing director of the Revolving Fund for Development Cooperation, CDP signs deals for four operations
Morocco, Iraq, Mozambique: CDP reaffirms its commitment to international cooperation by agreeing to participate in new projects to help spur growth in developing countries.
The first initiative concerns Morocco, where a financial convention of €13 million was signed with the Office National des Chemins de Fer (ONCF), the national railway manager in Morocco, to replace the railway network communications radio system with GSM-R on 712 km of the railway network. The new system is used as a standard for communications between trains and control centers. The project will be carried out by an international consortium of companies including the Italian Fullsystem Srl, active in the design and construction of telecommunication systems.
CDP is also in Iraq where a €99.1 million financing agreement was signed with the Iraqi Ministry of Finance to complete the urgent maintenance of the Mosul dam, the largest dam in the Middle East. Loan financing is complemented by $200 million in financial support already granted by the World Bank as budget support to the Iraqi government to help the country maintain its strategic infrastructure. The financial convention will therefore allow for the completion of the dam’s renovation, neglected in recent years due political instability of Iraq, guaranteeing its regular and safe use.
Two new financing contracts were signed with the Ministry of Economy and Finance of Mozambique. The first totaling €60 million is devoted to the construction and renovation of rainwater drainage systems in the city of Maputo, with the aim of improving the living conditions and safety of the beneficiary populations, in accordance with the guidelines set out in United Nations Millennium Development Goals, shared with the European Union. Floods and the erosion phenomenon caused by insufficient drainage and uncontrolled urban expansion have in fact jeopardized the health of the population. The initiative, funded through aid, is intended to help improve hygiene and environmental conditions and reduce the incidence of environmental waterborne illnesses. The second agreement, worth €35 million, aims instead to increase the employment and social inclusion of 27,000 users of schools and institutions in the technical and professional sector, in particular in the agrarian and tourist-hotel sectors through an improvement in the work training system and to meet the demand from local, national and regional markets.
The newly signed operations confirm the strategic role of CDP in the Italian cooperation system, in particular as the managing director of the Revolving Fund for Development Cooperation.
#promuoviamoilfuturo supporting initiatives and projects in line with the goals for sustainable development identified by Agenda 2030, adopted by the United Nations General Assembly.