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Référence: 20190663
Date de publication: 2 octobre 2019

Promoteur – Intermédiaire Financier

AFRICAN TRADE INSURANCE AGENCY

Lieu

Description

The project consists of the financing of 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 Togo, 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.

Objectifs

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 Togo 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 Togo's national development plan spanning from 2018 to 2022, which includes up to 65% of private sector and foreign investments in the economy for of the future projects in Togo. The operation will contribute to several Sustainable Development Goals (SDG), in particular to inclusive economic growth (SDG 8) and to poverty reduction (SDG 1).

Secteur(s)

  • Services - Activités financières et d'assurance

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Montant BEI envisagé (montant approximatif)

USD 12 million (EUR 11 million)

Coût total (montant approximatif)

USD 240 million (EUR 216 million)

Aspects environnementaux

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

Passation des marchés

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

Statut

Signé - 16/12/2019

Clause de non-responsabilité

Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

Mots-clés correspondants

Togo Services