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UT Bank to give 20% of IFC’s $15m as interest   
 
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11-Apr-2012  
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UT Bank is expected to cough up at least 20 percent of IFC’s $15 million capital injection into the bank as interest.

The International Financial Corporation (IFC) earlier invested $15 million to help UT meet the Bank of Ghana’s recapitalisation requirement.

The additional $15 million involves a $5 million Senior Loan and a $10 million Trade Finance Guarantee Facility.

It is unclear yet the duration within which the bank has to repay the money, but according to IFC, it is optimistic it will make good returns on its investment.

IFC’s Vice President for Latin America and the Caribbean, Sub-Saharan Africa, and Western Europe, Thierry Tanoh, said he is also hopeful other banks could benefit from IFC’s support subsequently.
 
 
Source: Citifmonline.com
 
 

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