News

Benin: BOAD backs construction of Marriott hotel with $14M loan

  • Comments   -   Monday, 18 September 2017 - 14:55

(Ecofin Agency) - The West African Development Bank (BOAD) will grant a $14 million (FCFA7.4 billion) loan facility to the Société d’hôtellerie, de restauration, et de loisirs which is owned by Lebanese-Beninese business mogul Ghaby Kodeih, to build and operate Mariott Hotels & Resorts, a five-star hotel, in Cotonou. The related agreement was signed last Wednesday by the two parties. 

The infrastructure, which will have 202 rooms, five presidential suits including a high-standing suit, 150 fully furnished apartments, an ultramodern mall, will be located behind the Palais des Congrès of Cotonou. It will undoubtedly boost the country’s hospitality sector. 

According to local media,  the project will cost about FCFA50 billion. 

For his part, BOAD’s president, Christian Adovelandé, said “the project will be carried out in an appropriate environment, in line with the authorities’ ambition to insure the sustainable economic and social development of the country, via the Government’s Action Plan (PAG). More precisely, it falls under the country’s national tourism strategy which aims primarily, among others, to significantly improve the quality of hotel services”.     

The loan which was just granted to the Société d’hôtellerie, de restauration, et de loisirs, brings to about FCFA746 billion BOAD’s commitments to Benin, including around FCFA88 billion for the private sector,” added Adovelandé. 

Fiacre E. Kakpo

SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
For the first time in its history, Côte d’Ivoire will elect senators...
Read more |  22 February 2018
Burkina Faso is looking for a new partner to operate Tambao mine,...
Read more |  22 February 2018
African countries, especially those highly dependent on hydroelectricity should diversify power sources....
Read more |  22 February 2018
In 2017, Rwanda generated Rwf72.6 billion ($85.4 million) from tea exports. Compared...
Read more |  22 February 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-02-16 00:12:25' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-02-23 00:16:32' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
listofid2=38109,38108,38107,38106,
reference=38109,38108,38107,38106,0
Within six months, goods worth 388 million birrs (about $14 million) were seized...
Read more |  22 February 2018
During Q4 2017, the unemployment rate decreased to 11.3% in Egypt, according to...
Read more |  22 February 2018
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4
For the first time in its history, Côte d’Ivoire will elect senators...
Read more |  22 February 2018
Burkina Faso is looking for a new partner to operate Tambao mine,...
Read more |  22 February 2018
African countries, especially those highly dependent on hydroelectricity should diversify power sources....
Read more |  22 February 2018
In 2017, Rwanda generated Rwf72.6 billion ($85.4 million) from tea exports. Compared...
Read more |  22 February 2018
Most Read | 7 days |
1 month |
1 year
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2018-02-16 00:12:25' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND a.created > '2017-02-23 00:16:32' AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.hits DESC, a.created DESC LIMIT 5
SELECT a.* FROM #__k2_items AS a WHERE a.published = 1 AND (a.catid IN (1174, 1215, 1175, 1176, 1177, 1178, 1179, 1180, 1181, 1182, 1216, 1183, 1184, 1185, 1186, 1187, 1188, 1189, 1190)) AND a.trash = 0 ORDER BY a.created DESC LIMIT 4, 4
Within six months, goods worth 388 million birrs (about $14 million) were seized...
Read more |  22 February 2018
During Q4 2017, the unemployment rate decreased to 11.3% in Egypt, according to...
Read more |  22 February 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.