I’ve come across some German badges, medals & awards etc but I’m struggling to identify this one.
According to the site unionemilitare.com, this is an
DISTINTIVO CONVEGNO ITALO-TEDESCO, ROMA MAGGIO 1938.
Translation: ITALIAN-GERMAN CONFERENCE (or MEETING) BADGE, ROME MAY 1938.
The site has a badge very similar to yours:
The site provides the following additional information:
Distintivo smaltato e numerato assegnato agli organizzatori del Convegno Nazionale Bande Cori Fisarmoniche Danzatori Popolari organizzato a Roma - p.zza di Siena - nel maggio del 1938 ( XVI E.F.) dall'O.N.D. (Opera Nazionale Dopolavoro) e dal P.N.F. Il distintivo fu realizzato in ottone e "smalto livellato" dalla ditta " Castelli Cerosa S.A." di Milano...
Translation: Enameled and numbered badge assigned to the organizers of the National Convention Bande Cori Accordion Folk Dancers organized in Rome - Piazza di Siena - in May 1938 (XVI EF) from the UN (National Opera Dopolavoro) and the PNF The badge was made of brass and "level glaze" from the company "Castelli Cerosa SA" of Milan
For the letters on the badge:
- PNF stands for Partito Nazionale Fascista, (National Fascist Party)
- OND stands for Opera Nazionale Dopolavoro (National Recreational Club), "the Italian Fascist leisure and recreational organization for adults."
La Corale Borghigiana was among those who performed on May 6th. Image source
Below is a copy of the program for the May 6th performance.
Image source: Archivio Centrale dello Stato
Confirming the meaning of Cri 114 (OPs picture) and D 174 is difficult. As there is also a badge B.A. 21 (see this forum in Italian for image), it is possible Cri = Cori (choirs), and D = Danzatore (dancers). The 'B' in B.A.21 is most likely 'Bande' while 'A' may possibly identify a particular band. However, I can find no solid evidence to confirm this.
Note: thanks to Tobia Tesan for the helpful comments