Ghana's Oil and Gas Sector - World Bank Support

The development of Ghana’s Jubilee oilfield has the potential to bring
substantial benefits, including reliable and affordable power generation, government
revenues estimated at more than $1 billion during peak production, foreign exchange
income, jobs, and stimulated demand for local goods and services to Ghana. The
engagement of the World Bank Group in the Jubilee oilfield supports the
government’s priority to develop its natural resources in the long-term
interests of the country. The World Bank Group is committed to following the highest
standards of governance and environmental and social practice to help maximize the
development impact in all projects we support.


· The World Bank is making available to Ghana its global knowledge and expertise in
the oil and gas sector to help the Government manage the new resources.

· IFC brings long-term capital along with private sector industry knowhow and a
commitment to best global best practices in private sector finance.

· MIGA offers a range of benefits to investors seeking protection and continuity for
their projects by providing political risk guarantees and dispute resolution
services for guaranteed investments.




World Bank (IDA/IBRD) Support


· In response to a request from the government, a capacity-building project with
concessional IDA funding of about $30 million is under preparation. It would assist
public bodies in charge of overseeing the oil and gas sector and provide support to
vocational training institutions.

· IBRD is in preliminary discussions to provide a loan on commercial terms to Ghana
to enable GNPC acquire an equity stake in a joint-venture for the development of the
associated gas from the Jubilee Field.


For any questions related to the World Bank’s support for Ghana’s oil
and gas sector, please contact us.

World Bank, Accra