AfDB approves $14.12 million to support Nigeria's membership in trade agency
Nigeria, Jan. 8 -- The African Development Bank Group (AfDB)on Tuesday gave approval for a $14.12 million financing to support Nigeria's membership in the African Trade Insurance Agency (ATI).
The bank said in a statement sent to PREMIUM TIMES that Nigeria could be a potential beneficiary of a gross political and commercial risk insurance cover on total investments and trade valued at over $5 billion by 2020 once it formalises its membership of ATI.
The facility made available through the bank's trade finance operations was approved as a critical step to enable ATI commence operations in Nigeria reputed to be Africa's largest economy.
Nigeria joins 14 other African countries that have already signed up to ATI membership.
The ADB said ...
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