IFC/SCB Facility

completed

The project involves IFC and SCB, UK considering to establish a structured trade finance facility of up to $300 million which 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 periodic fuels shortages in Ghana. The agreement with Standard Chartered Bank will specify that for each of the underlying companies supported by the IFC investment, it will be a condition of effectiveness for IFC's risk sharing arrangement that the respective underlying company meets environmental and social standards acceptable to IFC.