GovWire

Loans can be made in up to 55 currencies subject to a suitable local partner bank being found that is willing to lend in the local currency. For the overseas borrower (and buyer) it reduces foreign currency risk and avoids a variable debt service cost.

A buyer credit in local currency follows the same format as a conventional buyer credit in a standard currency such as sterling, euros or US dollars except that it is funded from a bank in the buyers country.

Local Currency Financing is particularly suited to projects that do not usually generate foreign currency revenue, such as water/gas/electricity utilities, local transport and local municipalities.