The Infrastructure Credit Guarantee Company Limited has secured a $15 million loan from the African Development Bank to boost infrastructure financing in Nigeria.The agreement, the lender said, aims to strengthen InfraCredit’s capital base and attract institutional investors’ resources to help close Nigeria’s infrastructure financing gap.
In his remarks, Barrow said the bank’s support for InfraCredit demonstrates the importance of fostering innovation and scalable solutions to tap into capital pools from domestic institutional investors.
“Despite challenging market conditions, we have consistently demonstrated strong fundamentals, solid portfolio performance, a proven track record, and profitability,” the CEO said.Azubike said expanding the company’s capital base with the facility would enhance its capacity to provide long-term local currency credit for the rapidly increasing pipeline of infrastructure projects, currently valued at over N839 billion .