Afreximbank to provide €57m facility for construction of five-star hotel in Cape Verde

Afreximbank2The African Export-Import Bank (Afreximbank) says it has signed an agreement for a €57 million facility for the construction of a five-star hotel in Cape Verde.

The Bank says in a press release issued in Cairo June 29, 2015 and copied to that the project, a hotel and spa will be constructed along the island nation’s main Santa Maria beach by Cape Verde-based Decameron New Horizon group.

The approval of the two tranche facility was part of Afreximbank’s strategy of facilitating the growth of the tourism sectors in Member States of the Bank under its Construction and Tourism-Linked Relay Financing Facility (Contour), Afreximbank President Jean-Louis Ekra was cited as saying at the signing ceremony for the facility which was held at the Bank’s Cairo Headquarters.

Jean-Marie Gras, President of Decameron Cape Verde, commended Afreximbank’s Contour programme as “a unique and original facility that makes it possible for countries like Cape Verde to access much-needed financing in order to fulfil their tourism potential”.

The hotel complex is expected to have 544 rooms and will include a convention centre, seaside restaurants and a fitness and relaxation centre, the release added.

By Emmanuel K. Dogbevi

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