PROJECT

Projects

Summary of Proposed Investment

Project Number

29481

Company Name

Chase Petroleum Ghana Limited

Date SPI Disclosed

May 4, 2010

Country

Ghana

Industry

Manufacturing

Projected Board Date

Jun 3, 2010

Status

Completed

Sector

All Other Chemical Product

Department

Regional Industry - MAS ME & Africa

Environmental Category

B - Limited

Previous Events

Approved : Jun 3, 2010
Signed : Jun 30, 2010

Project Description

IFC and Standard Chartered Bank (“SCB”), UK are jointly considering to establish a trade finance facility of up to US$300 million to help reduce periodic acute fuel shortages in Ghana. The facility will provide private sector bulk distribution companies (“BDCs”) in Ghana access to oil import financing facilities, enabling the BDCs to import petroleum product cargoes on a regular basis, thereby helping reduce fuels shortages in Ghana. Of the total facility amount, IFC’s exposure will be up to US$150 mn through a risk sharing arrangement, whereby, IFC will effectively share the underlying credit risk of the BDCs with SCB.

Sponsor / Cost / Location

Development Impact