Khartoum, Sudan – March 7^th, 2022. BADEA hosted the African Trade Insurance Agency (ATI), the African Solidarity Fund (FSA) and the African Guarantee and Economic Cooperation Fund (FAGACE) who are key multilateral guarantee and insurance institutions in Africa. These institutions were represented by H.E. Dr Sidi Ould Tah (BADEA), H.E. Ngueto Tiraina Yambaye (FAGACE), H.E. Amadou Abdoulaye Diallo (FSA) and H.E Manuel MOSES (ATI). The African Guarantee Fund Chief Executive Officer, Mr Jules Ngankam who was expected to participate, could not be present due to an unexpected circumstance.

The objective of the meeting was to explore synergies, insurance, and credit guarantee schemes to respond to MSMEs demand, public and private projects, and trade finance solutions. These institutions committed to join efforts and leverage on synergy to more efficiently de-risk investment and trade in Africa and contribute to accelerating the implementation of the Africa Continental Free Trade Area (AfCFTA).

About AGF

The Africa Guarantee Fund – AGF, an African financial institution mandated to provide financial guarantees to financial institutions to stimulate financing to SMEs and unlock their potential to deliver inclusive growth in the continent.

About ATI

The Africa Trade Insurance Agency -ATI is a pan-African institution mandated to turn African risk into opportunity by providing insurance and financial products, in partnership with the private and public sector with an ending goal to transform Africa into a prime trade and investment destination.

About BADEA

BADEA is a multilateral development financial institution owned by 18 Member States of the League of Arab States (LAS) signatories to its 1974 Establishing Agreement. Its mission revolves around promoting economic development in Africa and fostering cooperation between African countries and the Arab world through investment and trade. On its first rating exercise the Bank has been rated Aa2 with positive outlook by Moody’s.

About FAGACE

The African Guarantee and Economic Cooperation Fund (FAGACE) is an international multilateral financial institution dedicated to promoting public and private investments.

About FSA

The African Solidarity Fund- FSA is an African multilateral financial institution mandated to promote economic development and fight poverty in member states through productive investment financing to private sector, SMEs/SMIs and microfinance institutions.