The Mandated Lead Arrangers (MLAs) of Ghana Cocoa Board’s (COCOBOD) has presented a cheque of GHc25, 000 to the Tetteh Quashie Memorial Hospital at Mampong in the Eastern region.
Standard Bank, International Commercial Bank of China (ICBC), Credit Agricole CIB, Ghana International Bank and Denton Wilde Sapte contributed
GHc 5000 each. In addition to the cheque, the banks also provided two mechanized boreholes at the cost of GHc21, 000 for the hospital. The five lead financiers were also expected to present an anaesthetic machines and patient monitors to the hospital but the machines, valued at 35, 000 Euros, arrived behind scheduled at the sea port and were yet to be cleared.
Explaining the objective behind the gesture, the Managing Director of Stanbic Bank, Alhassan Andani, said “ Every year after signing these loan syndication, we receive a plaque from COCOBOD, we decided to be at the giving end this time around, by giving out this monies as form of our social responsibility.”
Receiving the cheque, the District Director of Health at Monpong, Dr. Joseph Opare, who expressed appreciation to the bankers and COCOBOD, promised that the machines and the money would be put to good use. He informed the bankers of other needs of the hospital which include a fridge for its morgue, construction of speed ramps in front of the hospital to prevent recurrent accidents and a laundry machine among others.
He explained that since the hospital’s laundry machine broke down about three years ago, it has had to fall on the services of Korle Bu Teaching Hospital and Ridge Hospital in Accra for assistance which have had a negative impact on the activities of the hospital.
The five philanthropic banks are the Mandated Lead Arrangers (MLAs) who partnered with other banks across the world to raise US$ 1.5 billion as loan facility for COCOBOD for the 2010/2011 cocoa season.
The US$1.5billion pre-export loan syndication finance facility, which was oversubscribed at US$1.834 billion, and the borrower increased the facility size to US$1.5 billion from US$1.2 billion, saw a total of 28 banks, including the mandated lead arrangers (MLAs) with ticket sizes following scale-backs ranging from US$5million to US$100 million. The margin of the loan is 90 basis points (bp), a fall from the 250bp over Libor paid on last year’s facility, but it is double the 45bp paid on the 2008 facility.
The bankers and staff of COCOBOD later visited the Tetteh Quashie Cocoa Farm and the Jubilee farm located in the same community, where some senior staff of the banks planted cocoa plants.
The Tetteh Quashie Memorial was built by COCOBOD in 1961and it serves about 120,000 people in the district. Out of four surgical theatres, only one is functional since 2006. The hospital has since the beginning of the year seen a total of 4,000 patients recording 200 deaths.
Standard Bank, International Commercial Bank of China (ICBC), Credit Agricole CIB, Ghana International Bank and Denton Wilde Sapte contributed
GHc 5000 each. In addition to the cheque, the banks also provided two mechanized boreholes at the cost of GHc21, 000 for the hospital. The five lead financiers were also expected to present an anaesthetic machines and patient monitors to the hospital but the machines, valued at 35, 000 Euros, arrived behind scheduled at the sea port and were yet to be cleared.
Explaining the objective behind the gesture, the Managing Director of Stanbic Bank, Alhassan Andani, said “ Every year after signing these loan syndication, we receive a plaque from COCOBOD, we decided to be at the giving end this time around, by giving out this monies as form of our social responsibility.”
Receiving the cheque, the District Director of Health at Monpong, Dr. Joseph Opare, who expressed appreciation to the bankers and COCOBOD, promised that the machines and the money would be put to good use. He informed the bankers of other needs of the hospital which include a fridge for its morgue, construction of speed ramps in front of the hospital to prevent recurrent accidents and a laundry machine among others.
He explained that since the hospital’s laundry machine broke down about three years ago, it has had to fall on the services of Korle Bu Teaching Hospital and Ridge Hospital in Accra for assistance which have had a negative impact on the activities of the hospital.
The five philanthropic banks are the Mandated Lead Arrangers (MLAs) who partnered with other banks across the world to raise US$ 1.5 billion as loan facility for COCOBOD for the 2010/2011 cocoa season.
The US$1.5billion pre-export loan syndication finance facility, which was oversubscribed at US$1.834 billion, and the borrower increased the facility size to US$1.5 billion from US$1.2 billion, saw a total of 28 banks, including the mandated lead arrangers (MLAs) with ticket sizes following scale-backs ranging from US$5million to US$100 million. The margin of the loan is 90 basis points (bp), a fall from the 250bp over Libor paid on last year’s facility, but it is double the 45bp paid on the 2008 facility.
The bankers and staff of COCOBOD later visited the Tetteh Quashie Cocoa Farm and the Jubilee farm located in the same community, where some senior staff of the banks planted cocoa plants.
The Tetteh Quashie Memorial was built by COCOBOD in 1961and it serves about 120,000 people in the district. Out of four surgical theatres, only one is functional since 2006. The hospital has since the beginning of the year seen a total of 4,000 patients recording 200 deaths.
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