PROJECT

Projects

Environmental Review Summary

Project Number

23959

Company Name

Societe Burkinabe De Promotion Hoteliere Sa

Date ERS Disclosed

Mar 24, 2005

Country

Burkina Faso

Region

Africa

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : May 25, 2005
Signed : May 24, 2005
Invested : Nov 25, 2005

Sector

City and Business Hotel

Industry

other

Department

Regional Industry - MAS Africa

Project Description

The project is to renovate and expand Hotel Independance (HI) into a three-star international business hotel with 180 rooms, located in Ouagadougou, Burkina Faso (BF). In an effort to revamp the hotel, the Government of Burkina Faso (GoB) has leased the property for fifteen years through an open bidding process to "Société Malienne de Promotion Hôtelière" (SMPH), an IFC portfolio client based in Bamako, Mali. SMPH created “Société Burkinabè de Promotion Hôtelière" (SBPH) for the purpose of acquiring and operating HI. The estimated project cost is Euro 7.1 million equivalent. The expansion and renovation requires acquisition of no land.

Environmental and Social

Conclusion & Monitoring