- Associations consent to second three-year arrangement to scale and imitate fruitful organization models.
- The agreement will establish a method for evaluating progress and outcomes, as well as joint marketing efforts to enhance cooperation and investigate new investment opportunities.
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group Guarantees, and the African Trade & Investment Development Insurance (ATIDI) have signed a three-year partnership to accelerate foreign direct investment throughout Africa. The two organizations have reached a second agreement to maximize development impact.
Through the World Bank Group guarantee platform, the two organizations will collaborate by utilizing ATIDI’s insurance and guarantee product expertise across the African continent and MIGA’s range of guarantee solutions and guarantee expertise. In addition, the partnership will try to reduce duplication and maximize cost savings by making joint project due diligence more efficient.
“Enabling more investment to finance transformational projects is vital to Africa’s sustained development,” says Manuel Moses, CEO of ATIDI. MIGA and ATIDI’s de-taking a chance with arrangements are fundamental to accomplish this critical plan. We look forward to a dynamic collaboration with MIGA after we have signed this agreement to use our respective institutions’ assets for the benefit of our continent.
The framework for the agreement places an emphasis on comparability, accountability, and mutual reliance. Each party will consistently share working norms and methods to assist with recognizing tantamount results to additional the two associations’ advancement commands.
“Our partnership with ATIDI will enable us to support countries in Africa in scaling and replicating development projects, thereby accelerating prosperity,” says MIGA Executive Vice President Hiroshi Matano. The continent will be able to attract significant foreign investment for important development projects thanks to this agreement.
Reports on joint projects, new products, mobilized capital, and shorter project processing times are all examples of the mechanisms that have been agreed upon by both organizations to measure progress and outcomes. Besides, the two players will complete joint promoting endeavors, preparing, and courses to reinforce collaboration and investigate new speculation open doors in Africa.
The essential understanding structure highlights the responsibility of MIGA and ATIDI to make a world liberated from destitution on a bearable planet. By pooling resources, the two organizations hope to accelerate sustainable African economic growth and reduce investment risks.
About ATIDI African states established ATIDI in 2001 to protect businesses doing business in Africa from trade and investment risks. ATIDI dominatingly gives Political Gamble, Credit Protection and Guarantee Protection. Since its inception, ATIDI has supported investments and cross-border trade worth USD85 billion into Africa. Standard & Poor’s has given ATIDI an “A/Stable” rating for its financial strength and counterparty credit. In 2019, Moody’s gave ATIDI an “A3/Stable” rating, which has since been raised to “A2/Positive.”
To learn more about ATIDI, go to: www.atidi.africa About World Bank Group Guarantees World Bank Group Guarantees was established in 2024 and brings together experts and guarantee products from all of the World Bank Group institutions at MIGA. It gives customers access to a comprehensive and simplified menu of guarantee solutions, allowing them to select the instrument that best meets their requirements. By de-risking investments in developing nations, the platform improves accessibility, reduces redundancy, and streamlines processes. Its will probably help the WBG’s yearly assurance issuance to USD20 billion by 2030.
