Mali - African Trade Insurance Agency (ATI): Country Membership Programme


Project Summary

Approval Date 05 Dec 2019
Signature Date 05 Dec 2019
Planned Completion Date 30 Dec 2023
Last Disbursement Planned Date 30 Dec 2023
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 7,290,000
Status Approved

Project General Description

The Programme is designed as a financial operation to finance part of the cost of Mali's membership of the African Trade Insurance Agency (ACA) programme. It was designed because Mali does not have the required capacity and financial resources to effectively manage the numerous issues impacting on the successful implementation of trade finance and underwriting of productive in-ward investments. In this regard, the Malian Government requires timely and coordinated support to ensure accelerated implementation of ATI's mandate in the country. The programme supports delivery of an integrated and enhanced trade finance and investment risk underwriting framework for the private sector in Mali, as well as improved attractiveness of foreign investment and the business framework. The project will strengthen the country's capacity to attract much-needed investment resources through improved political and credit risk (both real and pedrceived) environment, due to the country’s member ship with ATI. The expected results can be summarized as follows: (i) ATI will sign a participation agreement with Mali, to enable ATI to start operations in the country. Thereafter, Mali will be able to: (ii) finalise its membership subscription process by completing all relevant shareholding formalities; and (iii) the Republic of Mali will become a member country in which ATI can conduct business.

Project Objectives

The project objective is to strengthen the capacity of Mali with the required financial resources for membership subscription to African Trade Insurance Agency (ATI). This will enable the country to mobilise significant foreign direct investment (FDI) and provide greater insurance coverage for the sovereign and private sectors in support of the country's economic recovery efforts.

Beneficiaries

The immediate direct project beneficiary is the Republic of Mali (MLI). Indirect beneficiaries will include, but not limited to, the private sector, with a focus on small and medium-sized enterprises (SMEs), particularly female-run businesses, and commercial banks.

Participating Organization

Funding
African Development Fund
Implementing
REPUBLIQUE DU MALI

Information

IATI identifier 46002-P-ML-HZ0-001
Last Update 26 May 2020

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Contact Details

Name DIALL Hammadoun Amadou
Email h.diall@afdb.org

Geographic Location

Country Mali