GuarantCo, part of the Private Infrastructure Development Group (PIDG), announced on 7 September that it has provided Tanzania’s largest bank CRDB Bank with a five-year shilling-denominated portfolio guarantee worth $50m. The guarantee is intended to help the bank to lend to infrastructure projects in the country. In a press release, GuarantCo said that the guarantee “will create a risk-sharing partnership which will allow the bank to invest more in Tanzania’s infrastructure sector without breaching regulatory and capital limits set by the Bank of Tanzania”. GuarantCo will also be providing capacity building alongside PIDG Technical Assistance, which is backing a project finance capacity building workshop for financial institutions in Tanzania.
