adplus-dvertising
Business News

InfraCredit Gets $15m AfDB Loan to Boost Infrastructure Financing

InfraCredit

WATCH THE VIDEO HERE

By Adedapo Adesanya African Development Bank (AfDB) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan to strengthen InfraCredit’s capital base and attract institutional investors’ resources to help close Nigeria’s infrastructure financing gap. According to a statement, Mr Lamin Barrow, Director General of AfDB’s Nigeria Country Department, and Mr Chinua Azubike, CEO of InfraCredit, signed the agreement in Lagos on June 14, 2024. The facility will boost InfraCredit’s efforts to unlock additional long-term local currency financing through the capital markets for infrastructure projects, primarily by leveraging pools of capital from pension funds

WATCH FULL VIDEO

WATCH THE VIDEO HERE