EIB backs adhesion of Togo, and two others, to the African Trade Insurance Agency (ATI)

Investments
Thursday, 21 November 2019 16:02
EIB backs adhesion of Togo, and two others, to the African Trade Insurance Agency (ATI)

(Togo First) - On the sidelines of the Africa Investment Forum held in Johannesburg, the European Investment Bank (EIB) signed with the African Trade Insurance Agency (ATI) agreements for the adhesion of three potential members: Cameroon, Niger, and Togo.

The agreements "will enable these countries to fully benefit from their adhesion to ATI and to greater investments in sectors like agriculture, power, manufacturing, and health," said EIB's deputy president, Ambroise Fayolle. Moreover, "the new cooperation will boost the impact of investment insurance for West Africa's sustainable growth."

According to the EIB, boosting investment insurance will transform both public and private investments in Togo.

The institution, under the new agreements, will cover the countries' integration to the ATI through concessional financing.

Established in 1958, the EIB is the European Union's long term financing institution. It is based in Luxembourg. As for the ATI, it was established in 2001 to provide insurance against political and commercial risks in order to enhance investment and growth in its member States.

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