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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.

Business hotels are drivers of sustainable development

The country’s economy is expanding rapidly, but the lack of quality hotels in Addis Ababa is handicapping the capital’s development. High-end hotels can be a powerful driver of economic growth as they can accommodate business travelers and tourists alike. This project to develop a hotel complex in line with the highest international standards will create some 400 jobs and help spread industry best practices across the country.

As part of its goal to promote responsible social and environmental practices among its customers, Proparco has invested early-on in this project to provide support with making the complex eligible for the EDGE green building certification developed by the World Bank’s International Finance Corporation.