Landmark $500m stand-by LC set to transform Ghana power generation

Region:

Middle East & Africa

Jonathan Bell

Editor-in-chief

In a ground-breaking transaction for Ghana, HSBC and Standard Chartered Bank have issued a $500 million stand-by letter of credit on behalf of Ghana National Petroleum Corporation to make payments for natural gas deliveries. The transaction is related to gas supplies from Ghana’s Sankofa gas field and will be transformational in the development of power generation within Ghana.

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