Infrastructure Credit Guarantee Company Plc (InfraCredit), Nigeria’s ‘AAA’-rated infrastructure credit guarantee institution, has secured a US$50 million subordinated unsecured 10-year debt facility from the International Finance Corporation (IFC), a member of the World Bank Group.
The fully committed facility will be released in two equal tranches of US$25 million each.
The financing is expected to strengthen InfraCredit’s capital base and expand its ability to support infrastructure projects across Nigeria.
It will also increase the company’s capacity to mobilise long-term local currency financing for key sectors of the Nigerian economy.
Source: dailytrust
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