OA originated in the 1990?s as a vehicle to invest in hotels in Cabo Verde. At present, OA remains controlled by its founders and has been growing through acquisitions and by developing greenfield hotels. Currently it operates in:? (i) Cabo Verde, with three owned 4-star resorts and one owned 5-star resort; (ii) Brazil, with two leased 4-star resort hotels in the Northeastern city of Fortaleza, Cear? state; and (iii) Morocco, with a 5-star resort hotel, through a JV established in 2018 with a Moroccan partner (Med Hospitality), in the city of Sa?dia. OA is owned by 16 individuals and 2 entities representing 6 family offices. The largest 4 families collectively own over 87%: with 35.18% held by the Abade family, 24.27% held by the Pacheco family, 15% held by the Camacho family and 13% held by the N?brega family.                                    

 The proposed investment is a 42 million debt package expected to be comprised of: (i) up to 10.5 million in and A loan from IFC's account; (ii) up to 10.5 million subordinated loan in USD equivalent from IDA PSW Blended Finance Facility; and (iii) up to 21 million in B loan/parallel loans (with a B loan of 7.5 million and parallel loans of 13.5 million).                                                  

 Oasis Atlantico Imobiliaria and Sal H?teis are located in Santa Maria beach in Sal Island. Hotelmar is located in Praia city, Island of Santiago.       

This is a Category B project according to IFC's Environmental and Social Sustainability Policy. Based on the information reviewed by the Company, this investment will have limited adverse E&S risks and impacts that are few and site-specific, with no renovation or construction impacts, only operational impacts are expected. These can be avoided or mitigated by adhering to recognized performance standards, procedures and guidelines as described in the following sections.

Key E&S risks and impacts associated with the project include (a) Development and implementation of corporate and hotel level E&S management systems; (b) assurance of fair, safe and healthy working conditions (esp. on GBV, child labor and freedom of association) in compliance with IFC PSs; (c) pollution prevention (waste, emissions and effluent management) in line with WBG EHS Guidelines; and (d) life and fire safety (LFS) management at all hotels in line with WBG EHS Guidelines.