African Trade and Investment Development Insurance(ATIDI) has insured a EUR300 million loan facility issued by Deutsche Bank AG to the Government of Tanzania. The facility will finance several infrastructure projects included in Tanzania’s 2022/2023 budget and aligned with the country’s National Development Vision 2025.
“ATIDI is happy to support viable and impacting projects in Tanzania. As the largest pan-African multilateral Insurer on the continent, it continues to play a pivotal role in supporting its member countries’ development plans and priorities. We are looking forward to discussing further transformational projects that will sustainably benefit Tanzania and its people,” ATIDI CEO Manuel Moses said.
Commenting on the loan facility, Maryam Khosrowshahi, Co-Head of Africa Coverage, Head of CEEMEA Public Sector Debt Capital Markets, and Chair of Global SSA at Deutsche Bank said the bank was proud to have been selected by the United Republic of Tanzania as their partner of choice on this facility to help fund a number of critical infrastructure projects in the country.
“The successful execution of both tranches within a relatively short timeframe since the start of the transaction is testimony to the Bank’s ability to structure and execute complex and innovative financings in Sub-Saharan Africa. We are grateful to ATIDI for our close cooperation once again on the underwritten tranche,” Ms. Khosrowshahi said.
Tanzania is one of the seven countries – alongside Burundi, Kenya, Malawi, Rwanda, Uganda, and Zambia – which founded ATIDI in 2001, in a move to set up a specialized multilateral entity that could authoritatively address African political and other risk issues and attract global investors, who perceived African markets as excessively risky.
ATIDI has been a financial supporter of Tanzania
Since its inception, the multinational financier has supported Tanzania in projects valued at over US$3.5 billion in sectors including financial & insurance services, energy & gas, construction, and manufacturing. ATIDI’s contract value in the country stands at USD3.5 billion and a pipeline of over US$900 million is to be added in the short-term period.
ATIDI has grown from operating in just seven countries in 2001, into a pan-African institution with 21-member countries, present across Africa with a significant global reach. ATIDI is now implementing its 2023 – 2027 corporate strategic plan which sets ambitious goals for the organization’s growth and impact on Africa’s development.
The multilateral insurer recently rebranded from ATI to ATIDI, an identity that provides a better fit to its growing stature as the multilateral trade and investment insurer on the continent.
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