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The Export-Import Bank of the U.S. sanctioned a $155.4 million direct loan to the Republic of Ghana to finance the design and construction of a hospital expansion in Accra, the capital city.

Americaribe Inc., a subsidiary of the multinational group Bouygues, will export the goods and services required for the project.

"This transaction, which is our second authorization for sub-Saharan Africa of the calendar year, reflects our continued commitment to supporting exports to Africa and the priorities of the President's 2012 Presidential Policy Directive," Ex-Im Bank chairman and president Fred P. Hochberg said in a press statement. "Moreover, the transaction will ensure Ghana can provide better healthcare to its people and in the process support hundreds of U.S. jobs in a key sector."

The Ridge Hospital Complex, built in 1928, is a primary medical facility for the Greater Accra Region (GAR).

After the completion of the project, the expanded hospital will feature the most advanced medical facilities such as a 420-bed building, an extensive diagnostic and treatment block and a state-of-the-art maternity ward.

Americaribe, specializes in the design, engineering and construction of healthcare, education, transportation, residential and commercial projects.

"The Ghana Ridge Hospital is a key project for Americaribe's business development, boosting our activity and allowing us to create between 15 and 20 new direct jobs in the U.S. during the three years of the contract," Jean-Baptiste Baudin de la Valette, president of Americaribe said. "We have also created Americaribe Ghana Ltd., a company registered in Ghana and 100% owned by Americaribe Inc., to execute the job."

HSBC London and New York Project & Export Finance teams were the advisors to the Government of Ghana throughout the Ex-Im Bank transaction processes.