World Bank statement on IFC

Washington D.C. July 12, 2002 ? Some reports have recently appeared in the Ghanaian press suggesting that the International Finance Consortium, with which the Government of Ghana is negotiating a US$1 billion loan agreement, is an institution that is ?recognized? by the World Bank.

This is incorrect as the World Bank has no dealings with nor direct knowledge of the International Finance Consortium.

In particular, we would like to point out that the International Finance Consortium is not connected in any way to the International Finance Corporation (IFC), the private sector lending arm of the World Bank Group.

We are pursuing inquiries with the Ghanaian authorities about the details of this possible transaction.?