Nigeria gets PPP support

InfraCredit and the French Development Agency (AFD) have signed an agreement to help Nigerian authorities to help prepare and procure PPP projects.

InfraCredit and the French Development Agency (AFD) have signed an agreement to help Nigerian authorities to help prepare and procure PPP projects.

Under the plans, the multilateral will provide technical support to help the bankability of projects and attract private investment and InfraCredit will help facilitate sustainability financing methods for subnational governments.

The two bodies will target tapping the domestic debt capital markets for financing and create a prospective pipeline of PPPs.

“AFD’s technical assistance funding will enable InfraCredit to build deal pipelines of well-prepared state government-supported and private sector-led infrastructure projects,” said InfraCredit chief executive officer Chinua Azubike.

Earlier this week, the Nigerian Infrastructure Concession Regulatory Commission (ICRC) said it was planning to procure 53 PPP projects valued at about $22bn this year.