Aterios Capital Adopts the Equator Principles

Lagos, 1 March 2012

Aterios Capital, a young financial services company, has formally adopted the Equator Principles. Launched in June 2003, the Equator Principles commit financial institutions to ensure that the projects they finance promote socially responsible development and reflect sound environmental management practices.

The broad objectives of the Equator Principles are a complete fit with Aterios Capital's drive to lead responsible investments in infrastructure and agriculture.

"We believe that the potentials in these two sectors can be unlocked to drive development in Nigeria while maintaining the highest standards of corporate citizenship," says Olabode Abikoye CEO of Aterios.

After barely 15 months in business, Aterios Capital's private equity fund is acquiring assets in the agricultural sector across Nigeria, including a fruit juice concentrate manufacturer, silos, oil palm plantations, grain farms and livestock breeders. All these assets will be managed in full compliance with the Equator Principles as is expected of all the Equator Principles Financial Institutions (EPFIs).

Development finance institutions (DFIs) such as the World Bank and the IFC set out the benchmarks for managing the social and environmental impacts of projects that form the core of the Equator Principles. These have since been revised to "provide a single, consistent standard for private sector project financing". To ensure that EPFIs walk the talk, the principles require that they make public at least annually a report on their EP implementation.

Aterios Capital's adoption of the Equator Principles puts it firmly among a network of financial institutions worldwide that share a common approach to project finance.