CAL Bank II

The proposed investment consists of a US$50 million senior loan for CAL Bank Ghana Limited (“CAL Bank” or the “Bank”), an indigenous bank established in 1990 and listed on the Ghana Stock Exchange. The Bank’s co-founders include the Commonwealth Development Corporation (CDC), African Growth Fund, Vanguard Assurance Company Limited and IFC, who held a 25% ownership stake in the Bank until it divested in 2007. The project will support CAL Bank’s lending to Small and Medium Enterprises (SMEs). Portions of the senior loan will be targeted at growing CAL Bank’s climate finance as well as its women in banking business.