{"id":12269,"date":"2021-03-09T14:57:05","date_gmt":"2021-03-09T11:57:05","guid":{"rendered":"https:\/\/www.atidi.africa\/cooperation-between-eci-and-ati-propelled-by-a-virtual-signing-ceremony-of-an-mou\/"},"modified":"2021-03-09T14:57:05","modified_gmt":"2021-03-09T11:57:05","slug":"cooperation-between-eci-and-ati-propelled-by-a-virtual-signing-ceremony-of-an-mou","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/cooperation-between-eci-and-ati-propelled-by-a-virtual-signing-ceremony-of-an-mou\/","title":{"rendered":"Cooperation between ATI and Etihad Export Credit Insurance (ECI) Propelled by a virtual signing ceremony of an MoU"},"content":{"rendered":"<p><strong>Nairobi\/ Abu Dhabi, 9 March 2021<\/strong> &#8211; Etihad Export Credit Insurance Company PJSC (ECI) and the African Trade Insurance Agency (ATI) have today signed a Memorandum of Understanding (MoU) on mutual cooperation and communication. The MoU aims to explore, strengthen and enhance trade and economic cooperation between Africa and the United Arab Emirates (UAE).<\/p>\n<p>Developed economies have for years provided support to their investors and traders expanding into high-risk overseas markets through their government-funded Export Credit Agencies (ECAs). ECAs give insurance and may also provide loans to back the cross-border transactions of their domestic lenders and companies, driving exports and stimulating international trade.<\/p>\n<p>The MoU will reinforce ECI\u2019s support to its exporters and investors doing business in Africa. Through the MoU, ECI will access:<\/p>\n<ul>\n<li>ATI\u2019s expansive network in Sub-Saharan Africa;<\/li>\n<li>Risk-sharing\/participation to support export credit transactions that provide cover for UAE\u2019s companies;<\/li>\n<li>Political risk coverage in its Member States.<\/li>\n<\/ul>\n<p>The virtual signing ceremony was done in the presence of ATI\u2019s Management team, led by the Chief Executive Officer &#8211; Manuel Moses and ECI&#8217;s Management team was represented its Chief Executive Officer, Mr. Massimo Falcioni.<\/p>\n<p>Underscoring the importance of the strategic\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/alliance.html\" target=\"_blank\" rel=\"noopener\">alliance<\/a>,\u00a0 Mr. Falcioni said, \u201cAs we celebrate the rich and illustrious trade relations of the <a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/uae.html\" target=\"_blank\" rel=\"noopener\">UAE<\/a>\u00a0and the African region over the years, we at ECI are pleased to take this partnership further with\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/ati.html\" target=\"_blank\" rel=\"noopener\">ATI<\/a>. This collaboration will give our exporters the confidence to access the African region\u2019s diverse\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/market.html\" target=\"_blank\" rel=\"noopener\">markets<\/a>\u00a0and resources with state-backed assurances and safeguards against commercial and political uncertainties.\u201d<\/p>\n<p>\u201cWe welcome this opportunity to strengthen our commitment with ECI in exploring mutual opportunities for insurance, reinsurance, co-insurance and skill development and to assist and support insureds from ATI and ECI. The conclusion of this agreement also comes at an opportune moment as ATI has an excellent mandate that supports trade and private sector growth in the region, particularly in the wake of the coronavirus that has affected global economies,\u201d noted Manuel Moses.<\/p>\n<p>Increasingly, International ECAs have turned to ATI to neutralize the risks they may encounter in African markets. To date, ATI has supported projects by international ECAs valued at US$1 billion. ATI is based in Africa and therefore it has on-the-ground expertise that the ECAs may not have. As a result international markets have grown to value and trust ATI\u2019s robust risk ratings.<\/p>\n<p><strong>About Etihad Credit Insurance (ECI)<\/strong><\/p>\n<p>ECI supports\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/uae.html\" target=\"_blank\" rel=\"noopener\">UAE<\/a>\u00a0businesses through trade risk mitigation tools that eliminate the uncertainty in a\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/market.html\" target=\"_blank\" rel=\"noopener\">market<\/a>\u00a0that mostly demands for an open credit account transaction, which is a risky payment option. In the unfortunate occurrence of a non-payment \u2013 whether the customer is unwilling or unable to pay \u2013 insurance will take care of the loss and the\u00a0<a class=\"txt_link\" href=\"https:\/\/www.pakistanpoint.com\/en\/tag\/company.html\" target=\"_blank\" rel=\"noopener\">company<\/a>\u00a0is ensured to receive the payment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nairobi\/ Abu Dhabi, 9 March 20 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970],"tags":[],"class_list":["post-12269","post","type-post","status-publish","format-standard","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/comments?post=12269"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}