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    Signature(s)

    Amount
    € 11,370,000
    Countries
    Sector(s)
    Niger : € 11,370,000
    Services : € 11,370,000
    Signature date(s)
    5/12/2019 : € 11,370,000

    Summary sheet

    Release date
    2 October 2019
    Status
    Reference
    Signed | 05/12/2019
    20190662
    Project name
    Promoter - financial intermediary
    ATI MEMBERSHIP CONTRIBUTION NIGER
    AFRICAN TRADE INSURANCE AGENCY
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    USD 12 million (EUR 11 million)
    USD 240 million (EUR 216 million)
    Location
    Sector(s)
    Description
    Objectives

    The project will finance the membership contribution of several African countries in the capital of African Trade Insurance (ATI). Such participation will enable each country, in the present case Niger, to benefit from the guarantee mechanism of ATI. The project supports the development of various industries, in particular the private sector, through a range of investment and trade insurance products.

    The project fosters private sector investments through the expansion of African Trade Insurance Agency (ATI) in Africa. In the specific case, the project will allow Niger to become a member state of ATI. Over the past years, many African countries launched programs aiming at boosting their economies. All these plans have in common the prominent role of the private sector and they all underline the importance of foreign direct investments (FDI) as a driving factor to support the economic growth. As a crucial part of such FDIs and as a central pillar to encourage investors' attractiveness, countries rely on investment insurances provided by private sector insurers or institutions such as the Multilateral Investment Guarantee Agency (MIGA). However, the resulting insurance capacity is insufficient, ultimately restricting private sector investments and limiting growth potential in many countries. In 2001, seven African countries created ATI as a tool to support private sector investments and to enhance the business environment in its member states by providing investment and trade guarantees. ATI has grown since then and today 14 African countries are amongst the various shareholders of ATI with more countries interested to follow. The project is also aligned with Niger's national development plan vision spanning from 2017 to 2021, which aspires to raise the country's economic growth to 6% and improve the financial capacity of the country. The operation will contribute to several Sustainable Development Goals (SDG), in particular to inclusive economic growth (SDG 8) and to poverty reduction (SDG 1).

    Environmental aspects
    Procurement

    Given the nature of the services sought, no relevant environmental impact to be considered once the Republic of Niger becomes a shareholder of ATI.

    The Bank promoter will have to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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    Alternatively, the EIB can be contacted through its external offices.
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    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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