The ECOWAS Bank for Investment and Development (EBID) has granted a loan of USD 6 million (FCFA 2.9 billion) to the African Hospitality Limited (AHL). The facility, which will be used to finance the proposed Marriotts Hotel in Accra, Republic of Ghana, was made available on Monday, 12 April 2010 at the headquarters of the Bank.

The relevant loan agreement was signed by Mr Christian Adovelande, the President of EBID and Mrs Giselle Amorin, the Executive Director of African Hospitality Limited. The ceremony was also witnessed by Messrs Amos Afful and Eissame Halabi-Ahma, Directors of the Company and Messrs Bashir IFO and Ernest Komenan, Vice-¨Presidents of EBID.

The project involves the construction of a five-star hotel with 211 rooms and suites equipped with modern infrastructure and equipment that meet international standards. The hotel will be constructed over an area of 3.4 hectares which will later be increased to 16.2 hectares with the construction of commercial and residential complexes near the hotel. The project will increase the hotel capacity of Accra and also contribute to the beautification of the area which is located at city centre.

According to Mr Adovelande, the “development of the hotel industry is a pre-requisite for the development of the tourism industry which is widely considered by governments as a very effective tool for growth and poverty reduction”.

On his part, Mr Afful expressed his gratitude to EBID for agreeing to co-finance the project with the Industrial Development Corporation (IDC) of South Africa. “By increasing its interventions in favour of ECOWAS Member States has clearly demonstrated the importance of South-South cooperation to the sub-region” he stressed.

Press contact: Sibi LAWSON AGBEKPONOU
Head of Communication and Marketing Unit – EBID. Tel: 00228 221 68 64 – Email: sagbekponou@bidc-ebid.org