As part of the cooperation between the West African Development Bank (WADB) and FAGACE, Mr. Henri Marie DONDRA, General Director of FAGACE and Mr. Bassary TOURE, Vice-President of WADB, have signed on Wednesday 07/10/2015 in Cotonou a surety agreement of FCfa 4.9 billion for the benefit of the company KALYAN HOSPITALITY DEVELOPMENT TOGO SAU.

On this occasion, a guarantee agreement between the Fund and the promoter represented by Mr Senthilkumar CHIDAMBARAM RAJAGOPAL, Vice-President of the KALYAN group in charge of Business Operations and New Ventures, was also signed.

This agreement will enable KALYAN HOSPITALITY DEVELOPMENT to raise a financing of FCfa 10 billion from the West African Development Bank for the refurbishment of the 02 février hotel in Togo. Ultimately, the Radisson Blu Hôtel du 02 Février, a strong symbol of the Togolese history, will integrate the hotel network of “The Carlson Rezidor Hôtel” group with 64 suites and 256 rooms over 29 floors in order to meet the growing demand for luxury accommodation in Lomé.

This agreement to the benefit of KALYAN HOSPITALITY DEVELOPMENT brings to FCfa 39 billion the global volume of commitments of the guarantee fund in Togo.