Proparco has granted a $15 million loan to ENYI Hotel Hospitality to build a business hotel complex in Addis Ababa. The hotel will operate under the Pullman brand of French company Accor. This is Proparco’s first project in Ethiopia in several years, and is being financed in conjunction with regional and local partners.
The two institutions have committed US$ 58 million each for two 50 MW solar photovoltaic power plants.
Yesterday Proparco granted a €15 million subordinated loan to Manuchar, a Belgian-based commodities trading and logistics company. These funds will enable Manuchar to grow the business and enhance the storage facilities of two of its agri-food subsidiaries in Brazil and Vietnam.
Proparco has just granted a €20 million loan to DFCC Bank Limited, a privately-owned Sri-Lankan bank. This type of long-term finance which is very difficult to obtain on the domestic market, will help finance renewable energy projects and improve access to credit for the SMEs that constitute one of the country’s main growth engines.
Proparco has granted a USD 12 million loan to Peninsula Plaza, a project company set up to build and operate a mixed-use retail / office complex in Dar es Salam. This project is part of the current boom in infrastructure development in Dar es Salaam and will generate major benefits by enhancing urban infrastructure, structuring the local economy and creating jobs.