31st March 2017
GuarantCo partners with The London Stock Exchange Group to boost infrastructure investment in the poorest countries
International Development Secretary Priti Patel helps launch platform to support new sources of private investment for infrastructure financed by local currency
UK Secretary of State for International Development Priti Patel witnessed the signing of a new partnership between PIDG company GuarantCo and the London Stock Exchange today.
The joint initiative will use GuarantCo’s innovative local currency guarantees to help businesses from frontier markets to place investment bonds on the London Stock Exchange, bringing infrastructure investment opportunities in the poorest countries to an expanded range of commercial financiers.
Welcoming the partnership, GuarantCo Chair Andy Bainbridge said: “this innovative partnership combines GuarantCo’s unique support for local currency infrastructure finance and The London Stock Exchange Group’s unparalleled platform for international investment”.
“Working together, we will facilitate global investment for local infrastructure, stimulating the growth of local financial institutions and promoting economic development”, Mr Bainbridge added.
“This collaboration with GuarantCo is part of London Stock Exchange’s commitment to fostering the development of emerging and frontier capital markets. Efficient capital markets are key to raising finance for companies from these economies and it’s our hope that this partnership will encourage and facilitate further development local currency debt markets, building on our experience as the global leader for international RMB and Indian rupee bond markets’’ said Nikhil Rathi, CEO London Stock Exchange plc.
The MoU signing took place along-side the launch of London Stock Exchange Group’s’s inaugural ‘Companies to Inspire Africa’ report. The report features a range of African businesses in the private sector, spanning 43 countries and 7 sectors.