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StanChart, ICBC tie up for power projects in Ghana

StanChart Ghana and the Industrial Commercial Bank of China (ICBC), have partnered the government in Ghana to finance a $98 million electrification project in 556 communities in the Eastern, Northern and Volta Regions. This is part of an extension of electricity infrastructure to support the operation of productive ventures, social projects and activities in the rural areas. In the phase one of the project an amount of $85 million will be spent to finance the supply and erection of electrical materials and equipment for the electrification of 556 communities. The agreement also consist of a commercial credit facility of $13million from the Standard Chartered Bank Ghana.

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