At least $10 million of the $30 million granted will be earmarked for renewable energy and energy efficiency projects in Ghana. Such projects are particularly strategic to Ghana’s development. The Ghanaian energy sector is indeed currently facing important challenges as it is trying to increase its production while moving its energy mix towards green and renewable sources.
Proparco has been a long-term partner of CAL Bank, this new operation being the 5th since Proparco granted its 1st loan to the Ghanaian bank in 1998. This strategic partnership grew over the past 20 years through 2 senior loans, 1 subordinated loan and a $7 million equity investment in 2012 to support CAL Bank’s ambitious growth strategy.