GuarantCo wins three major industry accolades at the IJ Global Awards for its work in the APAC region

  • Date written
  • April, 2025

GuarantCo, part of the Private Infrastructure Development Group (PIDG), celebrated three category wins at the IJ Global Awards APAC ceremony held last night at Raffles in Singapore.

GuarantCo wins three major industry accolades at the IJ Global Awards for its work in the APAC region

Judged by panels of industry experts, the IJGlobal Awards celebrate outstanding achievements in infrastructure finance, recognising organisations and deals that demonstrate innovation and have a significant impact on their respective markets.

GuarantCo was named Guarantor of the Year and recognised for Market Innovation of the Year for the several transactions it closed during 2024 across the Asia-Pacific region. It also scooped Water Deal of the Year for its transaction with AquaOne for the Xuan Mai Water Supply System project in Vietnam.

The AquaOne bonds guaranteed by GuarantCo were groundbreaking as Vietnam’s first-ever verified green project bonds, with the longest tenor for corporate bonds achieved to date in the market of 20 years. The proceeds of the bonds are to fund the development of a greenfield water supply project for the Hanoi region of Hoa Binh province. The project represents a key step forward in the Vietnamese government’s efforts to transition away from environmentally damaging groundwater sources to river water as feedstock, which also provides better quality water for human consumption.

Other notable deals completed by GuarantCo that supported its selection for these awards by the IJ Global Awards panel included:

  • an innovative partial loan guarantee for Arya.ag to provide liquidity to India’s agricultural sector targeting farmers, farmer producing organisations (FPOs) and small agri-enterprises;
  • the signing of a Framework Agreement, part of the PIDG Credit Enhancement Facility (CEF) initiative, and its first transaction of a green portfolio guarantee with the Credit Guarantee Corporation of Cambodia, with the aim of developing onshore guarantee capability and catalysing sustainable infrastructure via the country’s capital markets; and
  • the guarantee of Asia’s first aquaculture green bonds issued by IDI Sao Mai in support of the broader development of Vietnam’s aquaculture sector.

GuarantCo closed its third transaction in 2024 under a pioneering Framework Agreement with Axis Bank to support the growth of the e-mobility sector in India. This particular guarantee was for a loan to Muthoot Capital to on-lend to customers for the purchase of electric two-wheelers in rural and non-metro communities.

GuarantCo also followed up on the success of the initial issuance and closed its second transaction with Bayfront Infrastructure in 2024, providing a guarantee for the Class D tranche of infrastructure asset-backed securities issued by Bayfront Infrastructure Capital V. The transaction featured a portfolio of more than USD 508 million spread across 37 project and infrastructure loans and bonds, including for sustainable projects as permitted by PIDG’s investment policy.

 

NOTES TO EDITORS

About GuarantCo

GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, and Global Affairs Canada plus France through a stand-by facility. GuarantCo is rated AA- by Fitch and A1 by Moody’s. Since 2005, GuarantCo has enabled USD 6.2 billion of total investment and USD 5.2 billion of private sector investment, giving 45.2 million people improved access to infrastructure and creating around 229,000 jobs. GuarantCo’s activities are managed by GuarantCo Management Company which is part of Cardano Development www.guarantco.com

About PIDG

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity and urgency.
PIDG offers Technical Assistance for upstream, early-stage activities and concessional capital; its project development arm – which includes InfraCo – invests in early-stage project development and project and corporate equity. PIDG credit solutions include EAAIF (the Emerging Africa and Asia Infrastructure Fund), one of the first and more successful blended debt fund in low-income markets; GuarantCo, its guarantee arm that provides credit enhancement and local currency solutions to de-risk projects; and a growing portfolio of local credit enhancement facilities, which unlocks domestic institutional capital for infrastructure financing.
Since 2002, PIDG has supported 233 infrastructure projects to financial close, which provided an estimated 228 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Global Affairs Canada and Germany. pidg.org