Decoding the news. Italy, a founding member of the Asian Development Bank, has long lagged behind other EU nations in ADB-financed contracts.
- According to Filippo Fasulo, co-chair of the Geoeconomic Centre at ISPI, Italy’s share is just 0.59%, compared to France’s 0.65% and Germany’s 2.56%.
- But the Milan summit could signal a shift in Italian and European positioning.
- “By bringing the meeting to Milan, Italy—and possibly the EU—signals its readiness to play a more active role within ADB.”
Back to Europe. For the first time, Italy has hosted the ADB annual meeting, which has returned to Europe since Frankfurt, Germany, in 2016.
- Fasulo frames the move as more than symbolic, arguing that it represents “an opportunity not only for Italian firms already involved, mostly in finance-related projects, but also for new players to expand into areas where Italy has been less present, such as manufacturing.”
The Quirinale’s message. In a message to delegates, Italian President Sergio Mattarella framed the summit as aligned with Italy’s constitutional mission to strengthen international cooperation.
- He praised the ADB’s role in addressing global challenges—from climate change to inequality—and expressed confidence in Milan’s potential to deliver “valuable results.”
By the projects. Talking about those results, during the summit, Italy’s state lender Cassa Depositi e Prestiti (CDP) signed two key cooperation agreements:
- One with ADB to co-finance climate resilience, biodiversity, sustainable food systems, and blue economy projects across Asia-Pacific.
- Another is with Indonesia’s state utility PLN to scout and co-develop energy transition projects within the Just Energy Transition Partnerships (JETPS) framework.
What they’re saying. Italian Undersecretary for Foreign Affairs Maria Tripodi joined the summit via videolink, calling the Indo-Pacific “strategic for global balance” and saying hosting the ADB meeting shows Italy’s growing commitment to the region.
- She emphasised support for Italian SMEs and pointed to tools like the €4 billion Italian Climate Fund to boost their access to Asian markets.
What we’re watching. Fasulo points to the summit as a moment of strategic recalibration that could open space for Italian industries beyond their traditional niches while strengthening Italy’s voice in shaping multilateral development priorities.
- “This represents an opportunity both for Italian companies already involved, primarily focused on finance-related projects, and for new players looking to expand Italy’s presence in other sectors where it has so far played a smaller role, such as manufacturing.”
- Milan’s high-profile hosting leads to a more profound and diversified Italian presence in ADB-backed initiatives, and whether it sets a precedent for broader EU engagement.
