The International Finance Corporation (IFC), a member of the World Bank Group, has committed $50 million in long-term subordinated debt to Infrastructure Credit Guarantee Company Plc (InfraCredit) to expand infrastructure financing in Nigeria. The 10-year unsecured facility was formalised in Lagos and will be provided in two equal tranches of $25 million. The facility will strengthen InfraCredit’s capital base as it expands its pipeline of infrastructure transactions and mobilises more long-term naira funding for projects across critical sectors of the Nigerian economy. These include renewable energy, climate-smart agriculture, telecommunications, digital infrastructure, healthcare...