Nigeria - African Trade Insurance (ATI) - Country Membership Programme


Project Summary

Approval Date 14 Dec 2018
Signature Date 04 Mar 2019
Planned Completion Date 31 Dec 2019
Last Disbursement Planned Date 31 Dec 2019
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15110
Commitment U.A 10,210,000
Status Implementation

Project General Description

The African Trade Insurance Agency (ATI) Country Membership Programme is designed because of the FRN lacks the necessary capacity and financial resources to effectively navigate the numerous issues impacting on successful implementation of trade finance and underwriting of investment risks. It aims to strengthen the capacity of FRN with the necessary financial resources for membership subscription in the ATI. This will enable the country to mobilise significant foreign direct investment (FDI) while offering greater underwritten insurance cover for both the sovereign and the private sector in support of the country’s economic recovery efforts. The expected outputs of the programme are: (i) African Trade Insurance Agency (ATI) will sign a participation agreement with FRN, to enable ATI to start operations in the country. This will allow; (ii) FRN to finalize its membership subscription process through the consummation of all relevant shareholding formalities; and finally (iii) FRN will become a member country in which the ATI is able to conduct business.

Project Objectives

The main objective of the proposed intervention is to support Federal Republic of Nigeria (FRN) with the required resources for membership subscription to the ATI.

Beneficiaries

The immediate direct project beneficiary is the Federal Republic of Nigeria (FRN). Indirect beneficiaries in Nigeria will include the private sector, with a focus on small-and medium sized enterprise (SMEs), particularly female run businesses.

Participating Organization

Funding
African Development Fund
Implementing
GOVERNMENT OF NIGERIA

Information

IATI identifier 46002-P-NG-KA0-004
Last Update 31 Oct 2019

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Contact Details

Name NEKATI Bleming
Email b.nekati@afdb.org

Geographic Location

Country Nigeria