{"id":29084,"date":"2019-01-10T03:27:53","date_gmt":"2019-01-10T02:27:53","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=29084"},"modified":"2019-01-10T03:27:53","modified_gmt":"2019-01-10T02:27:53","slug":"adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/","title":{"rendered":"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency"},"content":{"rendered":"

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020<\/em><\/strong><\/p>\n

 <\/p>\n

The African Development Bank Group (www.AfDB.org<\/a>), through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria\u2019s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa\u2019s largest economy, joins 14 other African countries that have already signed up to ATI membership.<\/p>\n

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion<\/strong> by 2020. The catalytic effect of using limited financial resources in this way is undoubtedly massive.<\/p>\n

The approved facility complements ongoing and planned interventions geared at building institutional capacity and improving the resilience of the Nigerian economy. Joining ATI will enable Nigeria to leverage its position to mobilize additional resources to finance trade, especially importation of essential goods such as medicines and communications equipment, to rehabilitate basic infrastructure and strengthen the country\u2019s productive sector.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

ATI\u2019s mandate is to provide medium to long term credit and political risk insurance, as well as other risk mitigation products to its member countries and related\u00a0public and private sector actors.<\/p>\n

These products directly encourage and facilitate foreign direct investment as well as local private sector investment in regional member countries and intra- and extra-African trade. ATI catalyzes private sector investments in infrastructure projects, thereby promoting economic integration of participating countries into regional markets.<\/p>\n

This financing aligns with four of the Bank\u2019s High 5 priorities, namely:\u00a0 Light Up and Power Africa, Industrialize Africa, Feed Africa and Integrate Africa. As a trade finance facilitation initiative, this financing will support operations that are crosscutting and multi-sectoral in nature and will have an impact on agribusiness, infrastructure development, electricity generation, telecommunications and manufacturing.<\/p>\n

According to the Director of the Financial Sector Department, Stefan Nalletamby, \u201cThe Bank seeks to achieve its ambitious development mandate by working with and through other strategic partners, and where possible, by supporting the development of strong and viable African institutions such as ATI. This financing scales up the work of ATI by supporting the beneficiary RMCs to become members.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020   The African Development Bank Group (www.AfDB.org), through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of …<\/p>\n","protected":false},"author":11,"featured_media":14611,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3075,2039,5074,5075],"coauthors":[2393],"class_list":["post-29084","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-adb","tag-african-development-bank","tag-ati","tag-rmc"],"yoast_head":"\nADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire<\/title>\n<meta name=\"description\" content=\"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire\" \/>\n<meta property=\"og:description\" content=\"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-10T02:27:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"465\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg\",\"width\":696,\"height\":465,\"caption\":\"Adesina\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/\",\"name\":\"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#primaryimage\"},\"datePublished\":\"2019-01-10T02:27:53+00:00\",\"dateModified\":\"2019-01-10T02:27:53+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"description\":\"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire","description":"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/","og_locale":"en_US","og_type":"article","og_title":"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire","og_description":"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments","og_url":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/","og_site_name":"National Wire","article_published_time":"2019-01-10T02:27:53+00:00","og_image":[{"width":696,"height":465,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Dayo Emmanuel","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/06\/Akinwumi-Adesina.jpg","width":696,"height":465,"caption":"Adesina"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/","name":"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#primaryimage"},"datePublished":"2019-01-10T02:27:53+00:00","dateModified":"2019-01-10T02:27:53+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f"},"description":"Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/adb-approves-14-12m-for-nigerias-membership-in-african-trade-insurance-agency\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"ADB approves $14.12m for Nigeria\u2019s Membership in African Trade Insurance Agency"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f","name":"Dayo Emmanuel","url":"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/29084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=29084"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/29084\/revisions"}],"predecessor-version":[{"id":29085,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/29084\/revisions\/29085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/14611"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=29084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=29084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=29084"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=29084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}