ATIDI Insures Loan to Implement EUR300 million Infrastructure Projects in Tanzania funded by Deutsche Bank

· ATIDI covers Deutsche Bank loan to Tanzania’s Ministry of Finance to implement important economic development projects in sectors including power, road, water, health and education.

· The multilateral insurer recently rebranded from ATI to ATIDI, an identity which provides a better fit to its growing stature as the multilateral trade and investment insurer on the continent

Nairobi, 26 July 2023 – ATIDI insured 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 provided a seven-year comprehensive cover to Deutsche Bank,
insuring the lender against non-payment by the Government of Tanzania on
the loan facility advanced to the Ministry of Finance and enabling the
implementation 50 identified infrastructure projects as well as
rehabilitation and implementation of new ones.

Commenting on the 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 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. Since its inception, ATIDI has supported Tanzania in projects
valued at over USD3.5 billion in sectors including financial & insurance
services, energy & gas, construction, manufacturing. ATIDI’s contract
value in the country stands at USD3.5billion and a pipeline of over
USD900 million to be added in the short-term period.

“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.

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
which provides a better fit to its growing stature as the multilateral
trade and investment insurer on the continent.

ATIDI was founded in 2001 by African States to cover trade and
investment risks of companies doing business in Africa. ATIDI
predominantly provides Political Risk, Credit Insurance and, Surety
Insurance. Since inception, ATIDI has supported USD78 billion worth of
investments and trade into Africa. For over a decade, ATIDI has
maintained an ‘A/Stable’ rating for Financial Strength and
Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained
an A3/Stable rating from Moody’s, which has now been revised to
A3/Positive.