ICBC loans $102 million USD in buyer's credit to Ghana for the Rural Electrification Northern Region project
Constant 2017 USD
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Energy (Code: 230)
Export Buyer's Credit
On January 11, 2012, the Industrial and Commercial Bank of China (ICBC) loaned $102 million in buyer's credit to Ghana for the Rural Electrification -Northern Region project (see 'Appendix 8: Project Loans Signed in 2012'). The loan had a maturity period of 15 years and a grace period of 5 years. The interest rate was 6-Month LIBOR + 0.3% margin. The interest rate coded in this project entry has been calculated by taking the average 6M LIBOR rate in January 2012 (0.797%) and adding that to the margin (0.3%): 1.097%.Hunan Construction Engineering Group Corporation is the contractor responsible for implementation. The total contract cost of the project was reported to be $120 million. The project was completed in 2016 November.
The project is referred to as 加纳北部省电网项目 in Chinese.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Government of Ghana [Government Agency]
Implementing agencies [Type]
Hunan Construction Engineering Group (HNCEG) [State-owned Company]