IFC/SCB Facility

completed

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.