Establishment of a New Insurance Program for Africa, “ASIST”

December 25, 2014

Nippon Export and Investment Insurance

On June 1st to 3rd, 2013, the Fifth Tokyo International Conference on African Development (TICAD V) was held and in this conference, the Governement of Japan announced diverse international cooperation assistances and several financial supports with concrete numerial targets for Africa. As part of a financial supports, Nippon Export and Investment Insurance (NEXI) will contribute to the promotion of providing our insurance in total of USD 2.0 billion for developing and encouraging Japanese export and investment.

In response to the statement and announcement expressed by the Government of Japan during TICAD V, and after considerable discussion with Japanese companies and received varies risk specifications in Africa, NEXI has decided to establish a new insurance program named the "ASIST1" in order to support the expansion of overseas business by Japanese companies in Africa.

Under the framework of ASIST, NEXI will cover 100% of political risk for each African country. The program can apply toward Buyer's Credit Insurance, Overseas Untied Loan Insurance, and Overseas Investment Insurance program in case that the developing countries are located in African countries where NEXI can undertake.

By establishing ASIST and providing 100% of political risk coverage for African countries, NEXI expects that ASIST will support and accelerate Japanese Companies for considering their exports and investment to Africa.

The details of ASIST are as follows:

(1) Applicable Insurance Program
・Buyer's Credit Insurance
・Overseas Untied Loan Insurance
・Overseas Investment Insurance

(2) Covered area
・African countries where NEXI can undertake

(3) Insurance Coverage
・Political Risk Coverage: 100%
・Commercial Risk Coverage: Same coverage when applicable

(4) Insurance Premium
・No additional insurance premium

(5) Program Period
From January 1st, 2015 to January 1st, 2020 for all the issued commitments (Naidaku) or insured projects

(6) Application for ASIST
ASIST is applicable with the above(1) programs

1 African Sustainable export and Investment SupporT insurance