Algeria and Italy Sign $455 Million Agriculture Deal Agreement

08 Jul, 2024

Algeria and Italy Sign $455 Million Agriculture Deal Agreement

Algeria and Italy have signed a 420-million-euro ($455 million) deal for an agricultural project in Algeria's Timimoune province. Covering 36,000 hectares, the project will produce wheat, lentils, and beans to boost Algerian non-hydrocarbon exports and create 6,700 jobs. This agreement is Italy's largest agricultural investment in the southern Mediterranean and aligns with Prime Minister Giorgia Meloni's "Mattei Plan," aimed at reducing irregular migration through African investment.

This strategy seeks to expand Algeria's southern production areas to 500,000 hectares. The Mattei Plan focuses on energy, agriculture, water, health, and education in Africa, promoting non-predatory cooperation. Other agreements have been signed with Tunisia and Libya.