The United States government through its Agency for International Development (USAID) and Infrastructure Credit Guarantee Company Limited (InfraCredit) recently signed a Declaration of Partnership for the first-ever bond co-guarantee under a risk sharing arrangement to provide increased access to electricity to consumers in Port Harcourt, Rivers State.
The N13 billion ($36.1 million) co-guarantee for a 15-year bond represents a partnership with InfraCredit, a domestic ‘AAA’ rated specialised infrastructure credit guarantee institution backed by the Nigeria Sovereign Investment Authority, GuarantCo (a Private Infrastructure Development Group company), KfW Development Bank and Africa Finance Corporation to provide local currency guarantees and mobilise long-term debt financing for infrastructure in Nigeria. InfraCredit is an official partner of Power Africa…
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News Archive from before July 2018