Mali - African Trade Insurance Agency (ATI): Country Membership Programme (AFDB-P-ML-HZ0-001)

Countries
  • Mali
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 5, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
REPUBLIQUE DU MALI
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported U.A 7,290,000
Converted using 2019-12-05 exchange rate.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 15, 2020


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Project Description

The Programme is designed as a financial operation to finance part of the cost of Mali's membership of the African Trade Insurance Agency (ACA) programme. It was designed because Mali does not have the required capacity and financial resources to effectively manage the numerous issues impacting on the successful implementation of trade finance and underwriting of productive in-ward investments. In this regard, the Malian Government requires timely and coordinated support to ensure accelerated implementation of ATI's mandate in the country. The programme supports delivery of an integrated and enhanced trade finance and investment risk underwriting framework for the private sector in Mali, as well as improved attractiveness of foreign investment and the business framework. The project will strengthen the country's capacity to attract much-needed investment resources through improved political and credit risk (both real and pedrceived) environment, due to the country's member ship with ATI. The expected results can be summarized as follows: (i) ATI will sign a participation agreement with Mali, to enable ATI to start operations in the country. Thereafter, Mali will be able to: (ii) finalise its membership subscription process by completing all relevant shareholding formalities; and (iii) the Republic of Mali will become a member country in which ATI can conduct business.

The project objective is to strengthen the capacity of Mali with the required financial resources for membership subscription to African Trade Insurance Agency (ATI). This will enable the country to mobilise significant foreign direct investment (FDI) and provide greater insurance coverage for the sovereign and private sectors in support of the country's economic recovery efforts.

The immediate direct project beneficiary is the Republic of Mali (MLI). Indirect beneficiaries will include, but not limited to, the private sector, with a focus on small and medium-sized enterprises (SMEs), particularly female-run businesses, and commercial banks.

Investment Description
  • African Development Bank (AFDB)
Contact Information

DIALL Hammadoun Amadou

h.diall@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.