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ATIDI Insures EUR300 Million Loan to Propel Tanzania’s Infrastructure Projects, in Partnership with Deutsche Bank

The projects align with Tanzania's National Development Vision 2025.

Now Then Digital by Now Then Digital
July 26, 2023
in National, News
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ATIDI Insures Loan to Implement EUR300 million Infrastructure Projects in Tanzania funded by Deutsche Bank
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ATIDI insured a EUR300 million loan from Deutsche Bank AG to Tanzania for infrastructure projects. The cover protects Deutsche Bank against non-payment by the Tanzanian Government for the loan to the Ministry of Finance.

KAMPALA, UGANDA | NOW THEN DIGITAL — In a significant step towards advancing Tanzania’s infrastructure development, ATIDI, in collaboration with Deutsche Bank AG, has insured a EUR300 million loan facility.

This strategic move is poised to fund a series of infrastructure projects outlined in Tanzania’s 2022/2023 budget, aligning with the country’s National Development Vision 2025.

ATIDI CEO Manuel Moses
ATIDI CEO Manuel Moses

Facilitating Progress Through Comprehensive Cover

ATIDI’s involvement comes as a key enabler for Deutsche Bank, providing a comprehensive seven-year cover against potential non-payment by the Government of Tanzania on the loan facility.

This insurance empowers the Ministry of Finance to proceed with the implementation of 50 identified infrastructure projects, along with the rehabilitation and establishment of new ones.

Deutsche Bank Proud to Partner with Tanzania

Expressing her pride in the bank’s partnership with Tanzania, Maryam Khosrowshahi, Co-Head of Africa Coverage and Head of CEEMEA Public Sector Debt Capital Markets at Deutsche Bank, highlighted the significance of the facility.

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The bank’s ability to structure and execute complex financings in Sub-Saharan Africa proved instrumental in the successful execution of both tranches within a relatively short timeframe.

“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.

“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: Empowering Tanzania’s Development Since 2001

Tanzania, one of the seven founding countries of ATIDI, played a crucial role in establishing this specialized multilateral entity in 2001. ATIDI aimed to address African political and other risk issues, making African markets more attractive to global investors who had previously perceived them as excessively risky.

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Over the years, ATIDI has supported numerous projects in Tanzania, amounting to over USD3.5 billion across various sectors, including financial & insurance services, energy & gas, construction, and manufacturing. With a pipeline of over USD900 million to be added in the short-term period, ATIDI’s commitment to Tanzania’s growth remains unwavering.

ATIDI’s Ambitious Growth and Impact Goals

Having expanded its presence from seven countries in 2001 to a pan-African institution with 21-member countries, ATIDI is pursuing ambitious goals through its 2023 – 2027 corporate strategic plan.

The insurer’s recent rebranding from ATI to ATIDI reflects its growing stature as a multilateral trade and investment insurer on the continent. This identity positions ATIDI for an even greater impact on Africa’s development.

About ATIDI: Driving Trade and Investment in Africa

Founded by African States in 2001, ATIDI has been a stalwart in covering trade and investment risks for companies operating in Africa. Primarily providing Political Risk, Credit Insurance, and Surety Insurance, ATIDI has supported USD78 billion worth of investments and trade into Africa since its inception.

The insurer’s financial strength has been recognized with an ‘A/Stable’ rating for over a decade by Standard & Poor’s and an A3/Positive rating from Moody’s, further affirming its credibility and ability to support Africa’s growth and development.

Editor’s Note: Please contact press@nowthendigital.com if you find any of the content to be inaccurate or outdated. 

You’re reading nowthendigital.com — which breaks the news about Uganda, Kenya, Nigeria, South Africa and the rest of the world, day after day. Be sure to check out our homepage for all the latest news, and follow NOW THEN DIGITAL on YouTube, Google, Web Stories, Google News, Medium, LinkedIn, Twitter, Reddit, Pinterest, Linktr, Buy Me a Coffee, Truth Social, and Flipboard to stay in the loop.

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