PROJECT

Projects

Summary of Investment Information

Project Number

33071

Company Name

Chase Petroleum Ghana Limited

Date SPI Disclosed

Apr 30, 2013

Country

Ghana

Region

Africa

Projected Board Date

May 30, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - MAS Africa

Industry

Manufacturing

Previous Events

Approved : Jun 28, 2013
Signed : Jul 1, 2013

Sector

All Other Chemical Product

Project Description

The proposed project involves the renewal of the existing Master Risk Participation Agreement (“MRPA”) with Standard Chartered Bank(“SCB”) for a trade facility of US$150 million for the issuance of Letters of Credit (“LC”) to a Ghanaian bulk distribution company (“BDC”) for the importation of petroleum products into Ghana for another 3 years starting from June 2013. The BDC under consideration is Chase Petroleum Ghana Limited (“Chase”). Of the total facility amount, IFC’s exposure will be up to US$75 million through the risk sharing arrangement, whereby, IFC will effectively share the underlying credit risk of the BDC with SCB.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation