ECGC’s equity investment in ATI.

ECGC Limited, on behalf of the Government of India (GoI), will be investing USD 10 million in African Trade Investment Agency (ATI) by way of subscribing for 100 Class ‘B’ shares each having a face value of USD 100,000. The proposed investment of the GoI was announced in the 18th Annual General Meeting of the ATI held on 28th June, 2018 at Abidjan, Cote D’Ivoire, which was attended by Mrs. Geetha Muralidhar, CMD, ECGC. On the occasion Mrs. Muralidhar stated that “India’s membership in ATI is a landmark development for a symbiotic relationship between the two fast growing regions in the world. It is indeed a proud moment to be the first non-African state shareholder of ATI. This partnership will not only give a fillip to the bilateral trade but also will contribute towards development of projects and enhance capacities and skills”.

ATI, headquartered at Kenya, is a pan-African and multilateral investment and credit insurer registered with the United Nations. It aims to provide political risk and export credit guarantee insurance to support medium to long-term trade and investments in the continent.

Photo 3 : ECGC’s overseas equity participation, the first for the company, will support GoI’s ‘Focus Africa program’ and vision of Asia-Africa Growth Corridor. The partnership will offer ECGC opportunities to engage with ATI in reinsurance and co-insurance of its projects in Africa.