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Friday July 31, 2015

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World Bank approves $700m guarantee for Ghana gas project

 

GBN, July 31, Ghanadot - The Board of Directors of the World Bank today approved $700 million in guarantees for Ghana’s Sankofa Gas Project, the bank says in a press statement issued in Washington and copied to ghanabusinessnews.com.

The statement describes the guarantee as a “record investment” for a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation.

The Board approved a unique combination of two guarantees for the Project – an IDA Payment guarantee of $500 million that supports timely payments for gas purchases by the Ghana National Petroleum Corporation (GNPC) and an IBRD Enclave Loan guarantee of $200 million that enables the project to secure financing from its private sponsor.......

 

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SIERRA LEONE FACES EBOLA SETBACK; 500 UNDER QUARANTINE

AP, July 31, Ghanadot - Authorities in Sierra Leone said Thursday they had quarantined 500 people after a man died from Ebola in an area where the deadly virus had been gone for months, in another setback for the fight against the disease........More

 

 

 

Oil has gone from savior to curse for Ghana.
Bloomberg, July 31, Ghanadot - When the West African nation shipped its first barrels of crude oil in 2010, then-president John Atta Mills pledged to build new roads and a deep-sea port, expand the power grid and create an aluminum industry....Five years later and Ghana’s economy is sinking. The government was forced to seek an emergency loan from the International Monetary Fund of almost $1 billion, the currency was the worst performer in Africa against the dollar........More

 

 

Ghana's producer price inflation rises to 23.1 pct in June

Reuters, July 30, Ghanadot - Ghana's annual producer price inflation rose sharply to 23.1 percent in June from a revised figure of 18.8 percent the previous month, driven by currency depreciation and higher cement prices, the national statistics office said on Wednesday.. ......More

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World Bank approves $700m guarantee for Ghana gas project

GBN, July 31, Ghanadot - The Board of Directors of the World Bank today approved $700 million in guarantees for Ghana’s Sankofa Gas Project, the bank says in a press statement issued in Washington and copied to ghanabusinessnews.com.

.......More

 

 

 

 
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