African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance (ATI)…


The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s largest economy, joins 14 other African countries that have already signed up to ATI membership.

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020.  The catalytic effect of using limited financial resources in this way is undoubtedly massive.

The approved facility complements ongoing and planned interventions geared at…

Read More


320ro
  • 1
    Share

Comments

comments