|Approval Date||14 Dec 2018|
|Signature Date||04 Mar 2019|
|Planned Completion Date||30 Jun 2020|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
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.
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.
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.
African Development Fund
GOVERNMENT OF NIGERIA
|Last Update||06 Jul 2020|