- Date written
- February, 2025
- Contact for guarantco
- Alison Hicks
- Communications Consultant
- +44 (0)738 5551967
- alison.hicks@guarantco.com
- Contact for PIDG
- Cecilie Sorhus
- Chief of Staff and Head of Communications
- +44 (0)7917 302724
- cecilie.sorhus@pidg.org
- Standard Chartered
- Julien Moity
- Senior Communications Manager
- +44 (0)7918 601617
- Julien.moity@sc.com
- Share
Standard Chartered, a leading international cross-border bank, and GuarantCo, part of the Private Infrastructure Development Group (PIDG), are proud to announce the signing of a USD 50 million standby liquidity facility. The facility will increase capacity for GuarantCo’s mission of financing the development of essential sustainable infrastructure in lower income countries in Africa and Asia.
A signing ceremony at GuarantCo’s London office was attended by Frank Gosselink, Jason Murphy and Alice Bains from GuarantCo; Robert Spain from PIDG; and Saif Malik, Rodney Nyangeri, Katherine Stegar and Faye Drew from Standard Chartered.
The facility will further strengthen GuarantCo’s ability to provide innovative credit solutions and develop local capital markets for infrastructure projects that help boost economic growth, improve the quality of people’s lives, alleviate poverty and deliver against the United Nation’s Sustainable Development Goals.
Standard Chartered and PIDG have a long history of collaboration across emerging markets in Africa and Asia on a broad portfolio of projects that improve access to vital resources such as renewable energy, clean water, transportation and digital connectivity.
Anneliese Dodds, the UK’s Minister for Development said:
“This new agreement between Standard Chartered and UK-backed GuarantCo is a great example of UK business and government working hand-in-hand to drive investment in the Global South, unlocking growth and jobs overseas and here at home. The UK’s support to GuarantCo has helped to mobilise $5.7 billion of private investment for sustainable infrastructure projects in Africa and Asia, which have benefitted over 44 million people, and made communities less vulnerable to climate change.”
Frank Gosselink, CEO of GuarantCo, said:
“Our raison d’être is to deliver impact through catalysing private investment, to accelerate climate action and deliver infrastructure, which improves lives in those markets most in need. The added firepower that this Standard Chartered facility will provide is welcome and their partnership is valued as we embark on an ambitious programme of work for the years ahead.”
Philippe Valahu, CEO of PIDG and Chair of the GuarantCo Board, said:
“In 2024, as one group with multiple solutions, we brought 25 infrastructure projects worth USD 5 billion to financial close in Africa and Asia. This involved successfully unlocking private sector investment at a ratio of 4.7x, allowing us to truly move and multiply infrastructure finance. The facility provided by Standard Chartered to GuarantCo provides us the opportunity to amplify our impact even further in 2025, making this announcement an exciting start to the year.”
Saif Malik, CEO, UK and Head of Banking & Coverage, UK, Standard Chartered says:
“We are delighted to deepen our support to GuarantCo in their efforts to deliver transformative infrastructure projects across Africa and Asia. This facility is a testament to our unwavering commitment to driving sustainable development and fostering economic growth in emerging markets. By providing this financial support, we aim to enable the successful execution of critical infrastructure initiatives that will have a lasting positive impact on our communities, enhance connectivity, and promote inclusive development.”