Deutsche Bank AG will provide a loan facility of EU€300mn (approx. US$330mn) to the Government of Tanzania to help finance infrastructure projects across the country
ATIDI has insured the loan facility which will be utilised to deliver important economic development projects in sectors such as power, water, health, education, road development, as well as rehabilitating old structures.
The multilateral insurer, which recently rebranded from ATI to ATIDI, provided a seven-year cover to Deutsche Bank. This will insure the lender against non-payment by the Government of Tanzania.
Maryam Khosrowshahi, co-head of Africa Coverage, head of CEEMEA Public Sector Debt Capital Markets, and chair of Global SSA at Deutsche Bank, commented, “We are proud to 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.”
Manuel Moses, CEO of ATIDI, added, “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.”