InfraCredit , an ‘AAA’ rated specialised infrastructure credit guarantee institution, has secured a US$30 million risk-sharing and blended local currency co-financing facility from British International Investment (BII), the UK’s development finance institution and impact investor, to support clean energy transition in Nigeria.
The US$30 million investment is a dual financing instrument combining a US$20 million (NGN32 billion) local currency counter-guarantee and a US$10 million (NGN16 billion) concessional financing to support decentralised renewable energy (DRE) projects, originated and guaranteed by InfraCredit.
The concessional financing will be provided through the Climate Finance Blending Facility (CFBF) which is a catalytic first loss multi-donor facility. It aims to mobilise additional funding from development partners and domestic institutional investors to co-finance decentralised clean energy investments alongside InfraCredit’s local currency guarantees in Nigeria.
The CFBF has UK Aid as anchor funder, InfraCredit as Co financing partner, and Stanbic IBTC Trustees as Custodian.
Olaniwun LLP UK advised British Investment International on the transaction.
.png)
.jpeg)
.jpg)
.jpeg)
