In the last few days, Ghanaweb has received numerous emails indicating the existence of the IFC. We will like to use this opportunity to clarify matters.

• Photocopy of the IFC Loan Deal

• The International Finance CORPORATION (IFC), a private sector lending arm of the World Bank Group, has done business in several countries, including Ghana. It has 175 member countries, which collectively determine its policies and approve investments. Read more on www.ifc.org

• International Finance CONSORTIUM (IFC): This is the IFC in question. According to the government, it is incorporated in the Bahamas with Chemac Inc as its representative. According to the government, it's a credible and well known institution, recognized by the IMF, World Bank, the UN and various governments of the world. The Governor of Bank of Ghana and the Senior Minister, Mr J. H. Mensah conducted separate investigations on the background of IFC and its associates in United States and Europe.
  Mr. Horst Schneider who described himself as a board member of this IFC, in an interview with a local radio station, is the President of Chemac Inc (see below). Their address provided on the contract is: IFC Global Limited, C/o UBS Bahamas Limited, UBS House- East Bay Street, Nassau- Bahamas.
  The American Stock Exchange, New York Stock Exchange, and the Nasdaq have all denied knowladge of this IFC.

• Chermac Inc.: According to IFC, this their representative.
  According to our investigations, this is an engineering company dealing in water pumps, process pumps process plants and equipment, cleaning and waterjetting systems, sealing products, valves, hand wheels and control systems. The company is not listed on any Stock exchange in the US. The company is located Upper Saddle River in New Jersey, USA. The address of the Head Office: 123 Pleasant Avenue, NJ 07458, Phone: 201 934 3300. Website: www.chemacinc.com.