PRAN Agro Limited (PAL) has successfully issued first internationally guaranteed bond in Bangladesh. The PAL achieved financial close of a landmark Tk 2,100 million (equivalent to $25 million) non-convertible, redeemable bond, with 100 percent on-demand credit guarantee from GuarantCo and
By Folasade Akpan
Over the years, the challenge of providing adequate infrastructure for Nigerians has been a herculean task for government at all levels and the Federal Government has at several occasions called on organisations to help in bridging the gap.
The Vice President, Prof. Yemi Osinbajo, at an event in 2020 said that in spite of government interventions over the years, Nigeria still faces a huge infrastructural deficit, which is constraining rapid economic growth.
He had said that according to the Nigerian Integrated Infrastructure Masterplan (NIIMP) and the Economic Recovery and Growth Plan (ERGP), Nigeria needs up to three trillion dollars over the next 30 years to bridge its infrastructure gap.
Views: Visits 3 The Private Infrastructure Development Group’s (PIDG) long-term infrastructure debt business, the Emerging Africa Infrastructure Fund (EAIF) saw its loan book break through the US$1 billion mark in 2020, with Zimbabwe becoming the 18th African country in its current portfolio. EAIF signed eight new projects, bringing the loan book value to US$1,04 billion. The Fund committed $243 million in new loans to businesses in digital and telecommunications, energy generation, manufacturing, transportation and logistics and bulk storage. Managed by asset managers, Ninety One, EAIF offers loans to mainly private sector infrastructure developers across Africa and parts of the Levant. It can lend between US$10 and US$65 million to 10 infrastructure sectors. In 2020, Zimbabwe became the 18th African country in the fund’s current loan portfolio to benefit from EAIF support.
The COVID-19 pandemic has caused unprecedented economic and social challenges worldwide. These effects have been particularly damaging for many of Canada’s partners in Africa.
As vaccination programs accelerate in Canada and people look forward to a better summer and something resembling a normal fall, it’s important to remember that…