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Project Summary Note - Infrastructure Credit Guarantee Company Limited (“InfraCredit”) – Nigeria
Provision of (i) a subordinated loan; and (ii) a Partial Credit Guarantee Facility (PCGF) to Infrastructure Credit Guarantee Company Limited, Nigeria (“InfraCredit”). The subordinated loan will improve InfraCredit’s qualifying capital base and enhance its long-term liquidity position whereas the PCGF will free up InfraCredit’s qualifying capital, enabling it to expand its local currency bond guarantee operations. Under the PCGF, the Bank will partially guarantee and share with InfraCredit, the credit risk on a portfolio of selected bankable and local Investment Grade (IG) bonds issued by eligible infrastructure projects or companies and funded through domestic local currency (LCY) bond markets.