A statement issued by the Public Affairs Department of the United States Embassy in Accra, which made this known, said OPIC was playing a significant role in Ghana’s economic development through the $1.3 billion exposure to support a wide range of projects in the healthcare, housing, education and energy sectors.
“With one-third of OPIC’s active portfolio now focused on the African continent (totalling $7.3 billion), Ghana ranks number one on OPIC’s current country exposure list for Africa, representing more than $1.3 billion in various investment finance, political risk insurance and investment fund support.
“OPIC committed $400 million in financing and political risk insurance for the Amandi 200 megawatt (MW) combined cycle gas turbine power plant in Ghana’s Western Region,” the statement said.
It continued: “This U.S. Power Africa-supported project was the only Power Africa Project to reach financial close in 2016, thanks to OPIC’s support. Over the years, OPIC has also supported Ghana’s healthcare sector through a $250 million project to rehabilitate medical clinics and hospitals throughout the nation, including Korle-Bu. OPIC also provided $60 million in support to Ghana Home Loans to help make mortgages available to Ghanaian families seeking affordable housing. These are just a few of the projects OPIC has supported in Ghana in recent years.
“Our portfolio in Africa has grown from about $1 billion in 2002 to $7 billion today. When I travel with a team from OPIC to Ghana and West Africa this week, I’ll see the impact that investment has had, from Cameroon — where a new hospital is providing sight-saving surgery to thousands — to Togo, where a major power plant tripled electricity generation capacity. Here in Ghana, OPIC has supported investment in many sectors, from a sweeping project to introduce more advanced healthcare equipment, to a major power plant, to a mortgage company that helped simplify land registry, enabling more people to purchase homes,” it said.