PIDG’s Credit Solutions business will address a shortage of long-term, patient funding and a lack of local currency financing and local capital market development for private sector infrastructure projects in developing countries.
They will provide funded and contingent hard currency and local currency credit solutions, with a focus on increasing local participation in both contingent and funded local currency financing solutions.
The Emerging Africa Infrastructure Fund (EAIF)
EAIF provides long-term foreign currency loans in sub-Saharan Africa.
At a glance
Established 2001 PIDG members currently funding UK Aid, DGIS, Sida, SECO Cumulative PIDG member funding $394.9m Fund capacity Capacity of over $1.1bn Chair Philippe Valahu Managed by Ninety One Total commitments as at 31 Dec 2021 $2,114m to 96 projects, of which 90 have reached Financial Close 2021 commitments $252.4m to 9 projects, of which 3 reached Financial Close
* There were two refinancing of already-existing projects that occurred during 2017 – for Bugoye and Indorama Eleme Fertiliser – the increases to the TICs and P esulting from these have been included in the cumulative figures
GuarantCo provides innovative local currency contingent credit solutions, including guarantees to banks and bond investors to develop local capital markets.
At a glance
Established 2005 PIDG members currently funding UK Aid, SECO, DGIS and DFAT, plus DGIS through FMO Cumulative PIDG member funding $322.8m Fund capacity Capacity of over $1.5bn Chair Philippe Valahu Managed by GuarantCo Management Company Ltd Total commitments as at 31 Dec 2021 $1,466.1m to 64 projects, of which 56 have reached Financial Close 2021 commitments $194.0m to 6 projects, 1 of which reached Financial Close
* All GuarantCo projects have been made in DAC I/II/III except for 3 projects in South Africa and 1 project in Gabon, where the donors gave specific permission
Adding 25% to Mali’s energy grid.
Delivering 90MW of additional baseload power to Mali’s national grid will give up to 4.5 million people improved access to power.
Guaranteed local currency funding for affordable housing. Financing will enable the construction of 10,000 new homes near Lagos.
Reducing Rwanda’s carbon emissions by 8,000 tonnes a year. Clean power is key to improving living standards for fast-growing population.
Run-of-river creates sustainable energy source for rural households. Largest private sector plant in Nepal, Lower Solu to deliver sustainable power to 4m people.