The Bureau of Public Enterprises, BPE and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed a Memorandum of Understating, (MOU) on infrastructure finance in Nigeria.
The Director General of BPE, Mr Alex O Okoh said, at the event held in BPE, Abuja, that the MOU was about infrastructure finance of private companies that had bought stake in public corporations.
He added that the MOU will enhance provision of local finance to private companies that bought or acquired stake in former public corporations, saying that stakeholders will now be able to access loans locally.
In his response, the CEO of Infra Credit, Mr. Chinua AZubuike said: “InfraCredit provides local currency guarantees to enhance the credit quality of debt instruments issued to finance creditworthy infrastructure assets in Nigeria that conform with its eligibility criteria.
“InfraCredit, is ‘AAA’ rated infrastructure credit enhancement facility, established by the Nigeria Sovereign Investment Authority in collaboration with GuarantCo, a Private Infrastructure Development Group company.”
Mr. Azubuike said InfraCredit had joined an elite circle of African companies by having a case study about its mission and operations published by the Harvard Business School.