The International Finance Corporation is making its first commitment to finance both infrastructure and water development in a special economic zone in sub-Saharan Africa. The International Finance Corporation (IFC) will lend up to $30 million to LMI Holdings to finance its growth plan.

The IFC said it plans to provide up to $30 million in loans from its own funds to Ghanaian diversified company, LMI Holdings. The company, which has interests in the construction, real estate development, logistics, utilities, and ICT sectors, will use the resource to finance its development plan and provide client companies with the critical infrastructure they need to increase their productivity.

Ghana's LMI Holdings plans to build a solar power plant that will power businesses operating in the Tema Free Trade Zone on the outskirts of Accra. The diversified firm will also build a water treatment and distribution plant that will serve businesses in the new Dawa Industrial Estate, also on the outskirts of Accra.