World bank OKs loan guarantees for Ghana gas project

The World Bank has agreed to provide $700 million in loan guarantees to help finance a major natural-gas project in Ghana. The bank has said that its board's July 30, 2015 approval of the guarantees, which it says is a record amount for such aid, will spur billions of dollars in additional investment for the Sankofa natural-gas project and lead to final contracts. The World Bank has also said its financial aid should stimulate substantial private spending for the project, which is expected to produce around 1,000 MW of electricity, or about 40% of Ghana?s current generation capacity.