AFDB gives ATI support
By Thandisizwe Mgudlwa
More and more support is pouring in; in an attempt to beef up the attraction of investment into Africa.
Recently the Board of Directors of the African Development Bank (AfDB) approved a USD15 million equity investment in the African Trade Insurance Agency (ATI) to increase its capital base.
A statement reports that this contribution will allow ATI to increase its provision of trade, credit and political risk insurance products that encourage foreign direct investment and trade in Africa.
Based in Nairobi, Kenya, ATI was founded in 2001, under an International Treaty by African Member States at the initiative of Common Market for Eastern and Southern Africa and with the technical and financial support of the World Bank.
ATI has a mandate to incr...