{"id":12333,"date":"2017-10-04T06:35:25","date_gmt":"2017-10-04T06:35:25","guid":{"rendered":"https:\/\/www.atidi.africa\/ati-launches-in-cote-divoire-targets-support-of-usd2-billion-of-investments-and-trade\/"},"modified":"2017-10-04T06:35:25","modified_gmt":"2017-10-04T06:35:25","slug":"ati-launches-in-cote-divoire-targets-support-of-usd2-billion-of-investments-and-trade","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/ati-launches-in-cote-divoire-targets-support-of-usd2-billion-of-investments-and-trade\/","title":{"rendered":"ATI launches in C\u00f4te d’Ivoire \u2013 targets support of USD2 billion of investments and trade"},"content":{"rendered":"

ABIDJAN, 13 September, 2017<\/strong> \u2013 A delegation from the African Trade Insurance Agency (ATI) are in Abidjan to launch the company\u2019s activities in the country with a series of events including a gala dinner and two forums for banks and energy sector players. The Minister of Economy and Finance, Mr. Adama Kone attended the gala dinner, where he welcomed ATI into the local market.<\/p>\n

\u2018\u2019C\u00f4te d\u2019Ivoire\u2019s membership will help help\u00a0 to extend ATI activities is including in the strategy of the Ivorian government to attract more investments and diversify our economy through the increase in trade and investment\u2019\u2019 stated Ivorian Minister Adama Kon\u00e9 during the gala dinner.<\/p>\n

ATI is a pan-African and multilateral investment guarantee agency. In C\u00f4te d\u2019Ivoire, which has just become a member, ATI plans to support the government and the private sector in two key areas. First, when the government uses ATI\u2019s guarantees to cover its sovereign risks, lenders will provide cheaper financing because the loan is secured by an \u2018A\u2019 rated institution. ATI can help the government reduce its borrowing costs by as much as USD2 \u2013 3 million in interest charges annually.<\/p>\n

Due to an overall shortage of international investment insurance capacity for most African countries, ATI will be able to help the government attract sizable inward investments and financing from international commercial banks, many of which are ATI\u2019s clients.<\/p>\n

The private sector will also benefit from ATI\u2019s products. Banks, for example, will be able to use ATI\u2019s insurance to protect against non-payment risks. This will allow banks to lend more by using ATI\u2019s guarantees as collateral, and ultimately Cote d\u2019Ivoire\u2019s small and medium sized (SME) companies are expected to reap the most benefits from this collaboration.<\/p>\n

Mr. Guy M\u2019Bengue, CEO of C\u00f4te d\u2019Ivoire\u2019s Export Promotion Council (APEX-CI) and a Board member of the Private Sector Employer\u2019s Association along with the Ministry of Economy and Finance, have both played an important role in securing C\u00f4te d\u2019Ivoire\u2019s membership in ATI.<\/p>\n

Speaking during a press event prior to the launch of ATI, the company\u2019s CEO, Mr. George Otieno noted \u201cWe are looking forward to helping Cote d\u2019Ivoire become even more attractive to investors. We fully expect to support an average of USD500 million worth of investments and trade into the country each year, which translates to USD2 billion in the next four years.\u201d<\/p>\n

C\u00f4te d’Ivoire becomes the third country to join ATI in just over a year following Ethiopia and Zimbabwe, which became members in 2016. ATI\u2019s membership drive has been made possible by the African Development Bank (AfDB), which to date has provided a combined USD30 million in soft loans for the membership subscription of Ethiopia, C\u00f4te d’Ivoire, Zimbabwe as well as an increase in the capital subscription of Benin.<\/p>\n

In the next two years, ATI will continue to target other ECOWAS states for membership. The list includes Burkina Faso, Ghana, Nigeria, Mali and Senegal.\u00a0 Increased membership from West African countries enables ATI to lend greater support to helping the region become an even more attractive destination for investments and trade with particular focus on sectors such as energy, water, road and rail construction and rehabilitation, building construction, agriculture and telecommunications.<\/p>\n","protected":false},"excerpt":{"rendered":"

ABIDJAN, 13 September, 2017 \u2013 […]<\/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-12333","post","type-post","status-publish","format-standard","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12333","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=12333"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12333\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}