{"id":12339,"date":"2017-04-24T12:25:43","date_gmt":"2017-04-24T12:25:43","guid":{"rendered":"https:\/\/www.atidi.africa\/cote-divoire-joins-the-growing-list-of-atis-new-member-countries\/"},"modified":"2017-04-24T12:25:43","modified_gmt":"2017-04-24T12:25:43","slug":"cote-divoire-joins-the-growing-list-of-atis-new-member-countries","status":"publish","type":"post","link":"https:\/\/www.atidi.africa\/ja\/cote-divoire-joins-the-growing-list-of-atis-new-member-countries\/","title":{"rendered":"C\u00f4te d’Ivoire joins the growing list of ATI\u2019s new member countries"},"content":{"rendered":"

NAIROBI, 24 April, 2017<\/strong>\u00a0\u2013\u00a0The African Trade Insurance Agency (ATI) announced today that C\u00f4te d\u2019Ivoire has joined a growing list of African countries who are members of the institution.<\/p>\n

ATI<\/a> is a multilateral investment insurer whose specialised investment and commercial risk insurance products are expected to help attract up to USD2 billion worth of inward investments and trade into the country, and to potentially help lower its sovereign borrowing costs by up to 1% annually.<\/p>\n

The pan-African institution now insures investments equal to approximately 0.6 to 1.4 percent of GDP annually in a majority of its member states and includes support of strategic deals such as cover on African Development Bank\u2019s USD159 million loan to fund Ethiopian Airline\u2019s fleet expansion. C\u00f4te d\u2019Ivoire\u2019s membership in ATI is seen as an integral part of the government\u2019s strategy to attract more investments and to diversify the economy through increased trade and investment opportunities.<\/p>\n

\u201cOur country membership in ATI will contribute to creating the economic conditions that will enable us to reach emerging country status by 2020,\u201d commented Mr Adama Kone, Minister of Economic and Finance of C\u00f4te d\u2019Ivoire.<\/p>\n

C\u00f4te d’Ivoire becomes the third country to join ATI in the last six months following Ethiopia and Zimbabwe, which became members in late 2016. Rapid membership growth, particularly in significant African economies, is core to ATI\u2019s medium-term plan to broaden its reach and impact and to better distribute risk across more countries in Africa.<\/p>\n

ATI\u2019s membership push is supported 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 and Zimbabwe as well as an increase in the capital subscription of Benin. Reflecting its catalytic role in African economies, ATI expects to leverage C\u00f4te d’Ivoire\u2019s initial share capital investment by up to 60 times in terms of supported investments into the country on an annual basis, as ATI does in other member states.<\/p>\n

In the next two years, ATI will continue to target other ECOWAS<\/a> and large African economies for membership. Increased membership by these countries elevates ATI\u2019s impact in Africa\u2019s economic development, where the company increasingly participates in priority projects targeting sectors such as energy, water, road and rail construction and rehabilitation, building construction, agriculture and telecommunications.<\/p>\n

ATI provides medium to long term credit risk mitigation products to support investors, banks, businesses, governments and government agencies in Africa. For banks for instance, ATI offers protection against non-payment risks that allow lenders to expand their loan portfolios. For governments, ATI\u2019s products can be used as a substitute for guarantees, which helps sovereigns to lower their debt ceiling.<\/p>\n

\u201cATI\u2019s entry into the Ivorian market is a real leverage for us to attract more foreign investments and to boost trade both regionally and internationally,\u201d notes Mr. Guy M\u2019Bengue, CEO of C\u00f4te d\u2019Ivoire\u2019s Export Promotion Agency (APEX-CI) and a Board member of the Private Sector Employer\u2019s Association (CGECI).<\/p>\n

\u201cOur focus this year and beyond continues to be membership growth, particularly in West Africa. We see this region as an important part of our pan African mandate and C\u00f4te d\u2019Ivoire is poised to be an important West African market for ATI\u2019s products. In partnership with other international players, ATI is now in a position to support strategic projects in West African member states in order to benefit the region,\u201d notes George Otieno, ATI\u2019s Chief Executive Officer.<\/p>\n","protected":false},"excerpt":{"rendered":"

NAIROBI, 24 April, 2017\u00a0\u2013\u00a0The […]<\/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-12339","post","type-post","status-publish","format-standard","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12339","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=12339"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}