InfraCredit secures $50m IFC loan to boost Nigeria infrastructure financing
InfraCredit has secured a $50 million subordinated unsecured 10-year debt facility from the International Finance Corporation (IFC), announced on Wednesday. The funds will be disbursed in two tranches of $25 million each. InfraCredit, Nigeria's AAA-rated specialised infrastructure credit guarantee institution, says the facility strengthens its capital structure and enhances its capacity to support a growing pipeline of infrastructure transactions across renewable energy, climate-smart agriculture, digital infrastructure, green growth, telecommunications, healthcare, transportation and other productive sectors. The investment mobilises long-term local currency financing for Nigeria's economy and builds on InfraCredit's record of facilitating over NGN600 billion in long-term local currency financing across 28 projects since 2017, including first-time issuers and milestone green bonds. By deepening its partnership with IFC, InfraCredit aims to expand the flow of long-term capital into Nigeria's infrastructure market, leveraging a diverse ecosystem of development finance partners. Will this increased capacity translate into more accessible financing for your business or sector, and how might you position to benefit?