Printer Friendly

U.S. Ex-Im Bank Approves Comprehensive Guarantee for UPS Capital Loan of $3.88 million to fund establishment of GI Leisure Amusement Park Project in Accra, Ghana.

MIAMI -- The Export Import Bank of the United States (U.S. Ex-Im Bank) has approved Comprehensive Guarantee to cover U.S. Loan of $3.88 million to fund the establishment of the GI Leisure Amusement Park Project in Accra, Ghana, estimated to cost $6,495,554 in Phase - 1 of Project Implementation. UPS Capital Business Credit of Windsor, Connecticut, is the U.S. Lender providing related Loan for the Amusement Park Project, while National Investment Bank (NIB) of Ghana is to provide Guarantee in support of the Project Loan.

The GI Leisure Amusement Park Project Loan has been successfully packaged by Financialbridge and will be utilized to purchase U.S. Manufactured Amusement Park Rides, Attractions, Support Plants and Game Hall to be supplied by leading Amusement Park Rides, Equipment Vendors and Pre-Engineered Game Hall Builders, including Chance Morgan, Inc. of Wichita, Kansas, Rao Design International, Inc. of Chicago, Illinois, Techmodular of Miami, Florida, American Rock Climbing, Inc. of Howey in the Hills, Florida, Amusement Products, Inc. of Chattanooga, Tennessee and other additional Suppliers. The U.S. Loan and Equity Capital will be applied towards execution of Project Site Construction Work Plan and full Project Implementation and Start-up within the overall Project Scope.

The demand for World Class Amusement Parks in Africa in general and West Africa in particular, has encouraged GI Leisure Company Limited to embark on the establishment of an Amusement Park Project in Efua Sutherland Park in Accra, Ghana. The Amusement Park is being located on a 12 Acre plot within the Efua Sutherland Park. Start-up Construction at the Project Site in Accra, Ghana will commence in July 2008, and the Park is projected to be open to receive its first visitors by March 2009.

The GI Leisure Amusement Park will provide employment to over 175 local Ghanaians that will work with U.S. Expatriate Managers to operate the Park. The Amusement Park will provide a place of enjoyment for families in the Region and a welcome place for local Ghanaian's and the West African Market to come for family entertainment and fun. The Amusement Park will promote increased activity in the Tourism Sector by the need for Restaurants and Hotel accommodations for out of town visitors coming to the Park.

Financialbridge is also pleased to announce that Mr. Patrick Fournie has joined our Management Group as Senior Advisor. He brings 30 years of International Banking experience with Citibank, BAC Florida Bank and Republic Federal Bank.
COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 12, 2008
Words:408
Previous Article:Chesapeake Energy Corporation Responds to Petition Filed by ICC Energy Corp.
Next Article:FPIC Insurance Group, Inc. to Present at Fox-Pitt Kelton Cochran Caronia Waller Conference on June 18, 2008.
Topics:


Related Articles
Global financing options.
Banking on Uncle Sam's help: Boeing CEO, others sing praises of Export-Import Bank. (Importexport).
LOAN GUARANTEE FOR TRANSPORT SECURITY EQUIPMENT.
Bladex, Eximbank sign Accord.
Exporting to Africa: South Bend company named 2008 Small Business Exporter of the Year for Sub-Saharan Africa.
Import financing.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters