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AshesiUniversity

Environmental & Social Review Summary

This Environmental and Social Review Summary is prepared and distributed in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board of Director’s decision. Board dates are estimates only.
Any documentation which is attached to this Environmental and Social Review Summary has been prepared by the project sponsor and authorization has been given for public release. IFC has reviewed this documentation and considers that it is of adequate quality to be released to the public but does not endorse the content.
Project number 27152
CountryGhana
SectorEducation Services
DepartmentHealth and Education
Company nameAshesi University College
Environmental categoryB
StatusPending Disbursement
Date ESRS disclosedJanuary 6, 2009
Previous EventsSigned: April 3, 2009
Approved: March 30, 2009
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OverviewCategory & Applicable StandardsKey Issues & MitigationCommunity EngagementsClient's Documentation

Overview of IFC's scope of review
IFC’s review of this project consisted of appraising technical, environmental and social information submitted by the project Sponsor, including a review of:

- The site plan for the proposed university campus
- Ashesi’s “Employee Handbook”
- Plans for waste-to-biogas technology for sustainable management of domestic wastewater and biodegradable municipal solid waste
- Response to a questionnaire given to the Sponsor by IFC

In addition, IFC met with the project team at the existing Ashesi University College in Accra and also visited the project site at Berekuso, located approximately 25 kilometers north of the city of Accra.
Project description
This expansion project is to relocate Ashesi University College (“Ashesi” or “Sponsor”), a private liberal arts college in Ghana, and to enable the first phase of construction for Ashesi’s permanent campus in Berekuso, peri-urban Accra, approximately 25 kilometers north of the capital city of Accra. The new campus will be built in phases and has a planned capacity of 2,000 students. For the first phase of the new campus development, Ashesi is seeking funding of US$8.2 million to develop academic capacity for 600 students including: campus infrastructure, academic buildings, libraries, cafeteria and dormitories for 240 students. For this project, Ashesi will secure $5.2 million in philanthropic grants for the academic buildings and infrastructure, and is seeking another $3.0 million in debt to finance construction of student dormitories. IFC has been asked to provide the debt funding of up to US$2 million for this phase and a further $1.0 million in debt for student village housing.