The African Development Bank (AfDB) recently approved a $15
million equity investment in the African Trade Insurance Agency (ATI) aiming to
strengthen its capital base.
The investment is paramount to ATI’s plans to encourage Foreign
Direct Investment (FDI) and trade in the continent by increasing its provision of
credit, trade, and insurance products related to political uncertainties.
Nairobi-based ATI, was established in 2001 under an
International Treaty by African Member States of the Common Market for Eastern
and Southern Africa (COMESA) and with the financial and technical support of
the World Bank.
According to the director of the AfDB’s private sector division,
Tim Turner; ATI will have supported about $8.6 billion worth of trade and
investment projects in the continent by 2014.
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