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  5. The Nippon Export and Investment Insurance (NEXI) Signs Memorandum of Understanding (MOU) with the Islamic Development Bank (IsDB), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the African Trade Insurance Agency (ATI) under the Witness of METI Minister Seko

The Nippon Export and Investment Insurance (NEXI) Signs Memorandum of Understanding (MOU) with the Islamic Development Bank (IsDB), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the African Trade Insurance Agency (ATI) under the Witness of METI Minister Seko

August 27, 2019

On August 27 (Tue.), 2019, under the witness of Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, Nippon Export and Investment Insurance (NEXI) signed a Memorandum of Understanding for Accelerating Trade and Investments Targeting Africa by Japanese Companies (MOU) with each of the following organizations: the Islamic Development Bank (IsDB), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the African Trade Insurance Agency (ATI), taking the opportunity of the visit of IsDB, ICIEC and ATI to Japan to attend the Seventh Tokyo International Conference on African Development (TICAD7).

1. Outline of the signing ceremony

Date
August 27 (Tue.)
Venue
METI
Signees
Dr. Mohamed Nouri Jouini, Vice President, IsDB
Mr. Oussama Abdel Rahman Kaissi, CEO, ICIEC
Mr. John Lentaigne, Acting CEO, ATI
Mr. Atsuo Kuroda, Chairman and CEO, NEXI
Witness
METI Minister Seko

2. Efforts under the MOU

NEXI concluded a MOU each with IsDB, ICIEC and ATI, which are organizations boasting abundant achievements in Africa and strong networks with the governments of respective countries and international organizations. Under the MOU, NEXI strives to enhance collaboration with these partners to built a new scheme for fully covering import costs and risks underlying project financing.

Moreover, NEXI also agreed with each of these partners on its provision of training programs for trade insurance targeting staff of IsDB, ICIEC and ATI and its opening of “Japan Desk,” a consultation counter at which the staff who have taken the programs provide advice to Japanese companies.

Through these efforts, NEXI is expected to effectively make use of the new scheme, which these four parties have established under MOUs, and to encourage Japanese companies to expand business in Africa.

Division in Charge

Trade Finance Division, Trade and Economic Cooperation Bureau