CAL Bank SME (IFC-38415)

Countries
  • Ghana
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 2, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CAL BANK LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 22, 2017

Disclosed by Bank Oct 24, 2016


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Project Description
A financing package of US$20 mn for CAL Bank Ghana Limited (“CAL Bank” or the “Bank”), a bank co-founded with Commonwealth Development Corporation (CDC) and African Growth Fund, in 1990, and in which IFC was a 25% shareholder until it divested in 2007. The investment comprises of a US$15mn 5 year senior loan to support the Bank’s lending to SMEs and a US$5mn trade finance to support the Bank’s trade finance business.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
CAL Bank 23 Independence Avenue P.O.Box 14596, Accra, Ghana Tel: +(233) 302 685091 http://www.calbank.net/calbank/ Email: mailto:investorrelations@calbank.net Environmental Protection Agency P.O. Box M326 Accra, Ghana Telephone: +233 302 664 697/8 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/