Headquartered in London, Standard Chartered Bank has over 1,600 branches and outlets located in over 70 countries and has operated for over 150 years in some of the world's most dynamic markets. The group earns around 90 per cent of its income and profits in Asia, Africa and the Middle East, from its wholesale and consumer banking businesses. Its income and profits have more than doubled over the last five years primarily as a result of organic growth. It is among the top three global banks for trade. Standard Chartered Bank is committed to building a sustainable business over the long term and is holds high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs around 70,000 people, nearly half of whom are women. The group's employees are of 125 nationalities, of which about 70 are represented in the senior management. Standard Chartered Bank is listed on both London and Hong Kong stock exchanges. Moody’s and Standard & Poor’s rating for SCB are A2 and A+, respectively.

IFC’s exposure will be up to $150 mn through a risk sharing arrangement, whereby, IFC will effectively share the underlying credit risk of the BDCs with SCB.

150.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	150.0
Loan
Equity

* These investment figures are indicative

Standard Chartered Bank is headquartered in London, United Kingdom and operates in over 70 countries. The project involves providing structured trade finance to Ghana’s BDCs, which import and supply petroleum products in bulk to the country’s retailers. Most of these BDCs are headquartered in Accra, Ghana.

The project is designed to have a development impact in terms of: Reducing Supply Interruptions: Improving access to trade finance is designed to help the BDCs import product on a regular basis, alleviating the occurrence of petroleum product shortages in Ghana; Private Sector Development: The facility is designed have a role in supporting independent private sector players.; and Supplementing Existing Facilities: The project supplements the facilities offered by local banks and IFC's GTFP program by providing additional cost effective trade financing solutions in the Ghanaian market and helping increase the overall trade finance flows to the country. IFC proposes to monitor the following key development impacts during the life of IFCâ?™s investment: - The volume of petroleum products imported in Ghana through the use of this facility - The number of BDCs using this facility - The total storage infrastructure established by the BDCs in Ghana in terms of capacity

Financial Structuring: IFC will help SCB establish the complex short-term trade financing structure, which is considered to be : (i) available to the large cross-section of sector players; (ii) of a scale adequate to increase the volume of products imported into the country, thus relieving product shortages; and (iii) supplements available facilities in the country by providing an additional cost effective alternative to clients due to a shorter turnaround time. Mobilization and Stamp of Approval: The structure is innovative and new, and after IFC has helped establish a robust transaction framework with demonstrated performance, it may help mobilize other commercial banks and/or DFIs to either seek additional sub-participation of risk within the transaction scope or to replicate the structure in Ghana with or without IFC's support in future. Environmental and Social Expertise: IFC proposes to be working directly with the BDCs and will assist the latter in establishing strong E&S practices based on IFC's Performance Standards

IFC has conducted done an appraisal of this potential investment regarding the following environmental, social, health and safety issues for evaluation:

(i) Management of fuel storage, loading and unloading
(ii) Control of oil spills, air emissions, and liquid effluents, safe disposal of oils, waste, etc.
(iii) Safety prevention measures (i.e., fire, explosion, leaks, spills)
(iv) Emergency preparedness and response
(v) Workers exposure to volatile organic vapors.

According to the IFC, since the project has limited adverse impacts and risks which are manageable, IFC confirms that it is categorized as a Category B project according to IFC’s procedures for Environmental and Social Review of Projects.