In 2011 the Ghanaian government issued apolicy establishing Public Private Partnerships (PPPs) forthe purpose of implementing infrastructure projects andimproving the capacity of services provision. A World BankMission visited Ghana early in 2012 to assess the legal andpractical feasibility of participation in PPPs at thesub-national level of the Government and the possibilitythat private commercial banks can provide non-sovereignfinancing to such PPPs. This report will present a summaryof the available information on local governments andfinancial markets in Ghana, and identify potentialinfrastructure investments that could later be supporteddirectly or indirectly by the International FinanceCorporation (IFC) sub-national window, such as with bankguarantees, non sovereign loans, equity or other means. Thisreport also discusses the legal framework for financialoperations of SOEs.