Nairobi, Kenya: GuarantCo and InfraCo Africa yesterday marked the official opening of their first Africa office, which will cover East and Southern Africa from Nairobi. Both companies are part of the London-based multilateral Private Infrastructure Development Group (PIDG), which has been active in the region for more than 15 years.
GuarantCo, the world’s leading local currency guarantee facility, has received a further AUD4m from DFAT to support its continued growth. GuarantCo is also backed by the UK (DFID), Switzerland (SECO), Sweden (Sida), through the multilateral Private Infrastructure Development Group (PIDG), and the Netherlands (DGIS) through FMO. This recent funding allocation blends well with GuarantCo’s ambition to expand its operations in Asia and the Pacific to address existing constraints in local currency debt financing for infrastructure projects. "GuarantCo is grateful for the further funding received from DFAT and its continued support. We continue to seek to expand GuarantCo's activities in Asia and the Pacific following the recent opening of our office in Singapore" stated Mr. Andy Bainbridge, Chairman, GuarantCo Board.
The Energy Regulatory Authority (ERC) will undertake a study to help address existing constraints in the supply of local financing to infrastructure projects in the energy sector.
View the press release here
Read the full report here.
GuarantCo, Société appartenant au Groupe PIDG a fourni une garantie du compte de service de la dette sur une durée de quatorze ans et demi (14,5 ans) pour un montant total de 4.6 million de dollars pour le compte de la société Albatros Energy Mali (« AEM »). Cette garantie du compte du service de la dette qui bénéficie aux Banques prêteuses ainsi qu’à certains fonds d’investissement ayant accepté de participer au financement du projet, facilitera la construction d’une centrale électrique à fuel lourd d’une capacité de production d’électricité de 90MW dans la région de Kayes au Mali. Ce projet dont le coût du financement est estimé à 124,7 million de dollars a fait l’objet de la signature d’un contrat de concession entre AEM et le gouvernement du Mali, pour une durée de [xxx] ans.
GuarantCo, part of the Private Infrastructure Development Group (“PIDG”), was established to help address and overcome existing constraints in the supply of local financing to infrastructure projects and to support the development of local financial markets in low income countries.
London, March 31 2017
GuarantCo has signed a Memorandum of Understanding (MoU) today at London Stock Exchange, the signing was witnessed by the UK Secretary of State for International Development Priti Patel.
For Immediate Release
Byco Oil Pakistan Limited (“BOPL”) has successfully issued its first privately placed Sukuk for PKR 3,120mln. The issue, subscribed by a wide range of local investors, is rated AAA by PACRA and 100% backed by a guarantee from the Private Infrastructure Development Group’s guarantee company GuarantCo.
The Sukuk supports a refinery upgradation programme which will provide additional fuel for energy and transportation to support the country’s economic growth. The funds will enable Byco’s flagship refinery in Balochistan, south-west Pakistan, to increase production rates through completion of its platformer, improve energy efficiency and expand storage facilities.
In a statement, Lasitha Perera, Chief Executive Officer of GuarantCo said: "The success of the Byco Sukuk, the first of its kind, delivers on GuarantCo's commitment to provide local currency credit enhancement that enables investors to participate in long term infrastructure projects in Pakistan."
"We are pleased to be supporting a key provider of fuel for Pakistan’s homes and businesses" he added.