Duval Great Lakes, the Project entity, is majority owned by Duval Group. The other shareholder is Vicky Murabukirwa. Duval Group is a well-established French conglomerate with core activities in real estate and hospitality. Duval Group is owned by the Duval family, including amongst others, Eric Duval, the Group’s founder and chairman, Pauline Duval, Co-Executive Director and Louis-Victor Duval, Co-Deputy Executive Director. Vicky Murabukirwa is a real estate professional in Rwanda.                                                  

The total Project cost is estimated to be up to close to US$70 million. IFC will provide an A-loan of up to US$17.5 million and will mobilized up to another US$17.5 million from other lender(s). The remaining portion of the Project will be funded by Duval Group and possibly other equity investors.                

The Project is located in Kigali, Rwanda.                                                   

The Key E&S risks associated with this Category-B project include: (a) E&S impact assessment for the proposed project as per IFC PSs; (b) company’s E&S staffing and management systems for construction and operation in line with IFC PSs; (c) assurance of fair, safe and healthy working conditions during construction and operation especially freedom of association and gender issues; (d) effluent, emissions and waste management; (e) life and fire safety design and implementation in line with WBG EHS Guidelines; (f) stakeholder engagement and grievance mechanism.