Agreement between CDP, the G7 financial institutions and the World Bank for the management of pandemics

Other two agreements to boost synergies related to sustainable finance and critical raw materials were also signed at the 79th UN General Assembly in New York

Help developing countries to manage pandemics by promoting the growth of vaccine and medicine production and distribution chains. This is the main objective of the new agreement signed at the 79th United Nations General Assembly (UNGA) in New York between the Cassa Depositi e Prestiti (CDP) Group, the development finance institutions of the G7 member countries and the International Finance Corporation of the World Bank Group. This agreement, which follows the commitments made during the G7 Summit in Apulia, aims to support global efforts in the management of health emergencies by creating joint financing opportunities for the creation of manufacturing hubs dedicated to pharmaceutical and medical products in developing countries, especially vaccines and diagnostic machinery.

During this year's UN General Assembly, which focused on crucial issues of our century such as climate change, food and health security and the promotion of global peace and security, the CDP Group also signed two other important agreements:

• The first, with the United Nations Development Programme (UNDP), aims to renew collaboration with the UN agency in order to increase investment in projects that contribute to achieving the Sustainable Development Goals (SDGs).
• The second, signed with several development finance institutions, export credit agencies (ECAs) and governments belonging to the Minerals Security Partnership (MSP), provides for the creation of a network to coordinate actions and financing related to critical raw materials essential for the green transition.

The G7 DFIs' initiative for Emergency Financing of Medical Countermeasures (MCM)

Together with the G7 Development Finance Institutions (DFIs), the European Investment Bank (EIB) and the World Bank's International Finance Corporation (IFC), CDP is among the promoters of the Initiative for Emergency Financing of Medical Countermeasures (MCM). Supported by G7 leaders at the recent summit in Apulia, the agreement is part of a broader global effort to protect health during pandemics and aims to create collaborative mechanisms and funding opportunities to ensure rapid and equitable access to vaccines, diagnostics and treatments during such crises, especially in developing countries.

The Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP)

Through the new MoU with the United Nations Development Programme (UNDP), which follows the one signed in 2019, CDP aims to renew its collaboration with the UN agency focused on achieving the Sustainable Development Goals (SDGs), promoting investments and joint initiatives in projects aligned with the commitments made under the Paris Agreement. One of the key components of the MoU is the Youth4Climate initiative, promoted in cooperation with the Ministry of Environment and Energy Security, which aims to empower young leaders in projects that pursue climate resilience, providing them with a platform to influence environmental policies at the international level.

Launch of the Critical Raw Materials financing network

Recognising the essential role of critical raw materials in the transition to green energy, CDP has joined the MSP Finance Network together with several Development Finance Institutions, Export Credit Agencies (ECAs) and member governments of the Minerals Security Partnership (MSP). The initiative aims to strengthen cooperation, promote information exchange and co-finance sustainable supply chains for critical raw materials needed for the energy transition.