The Private Infrastructure Development Group (PIDG), through its project development solution InfraCo, has exited its preference share investment in InfraCredit Nigeria for $26 million.
InfraCredit is a specialized institution that provides Naira-denominated guarantees to enhance the credit quality of local currency debt instruments issued to finance infrastructure projects in Nigeria.
PIDG partnered with the Nigeria Sovereign Investment Authority to establish InfraCredit in 2017 as the first local currency guarantee facility in the world targeting infrastructure in frontier markets. During this time, PIDG played an active role as an investor.
“PIDG has demonstrated how to successfully use increasingly scarce capital to unlock domestic institutional finance,” said Philippe Valahu, CEO of PIDG. “InfraCredit’s strong performance serves as a template for how such entities can be built in the future. With this transaction, we can now redeploy our investment
