West African Development Bank Supports Golden Tulip Akwaba Hotel Project with $15.3 Million Credit Facility
SUMMARY – WEST AFRICAN DEVELOPMENT BANK (BOAD) PROVIDES $15.3 MILLION CREDIT FACILITY FOR GOLDEN TULIP AKWABA HOTEL PROJECT IN ABIDJAN, CÔTE D’IVOIRE. IT WILL SUPPORT LOUVRE HOTELS GROUP’S AFRICAN EXPANSION.
The West African Development Bank, also known as BOAD, has announced a credit facility of $15.3 million for the Golden Tulip Akwaba hotel project in Abidjan, the economic capital of Côte d’Ivoire.
This week, the bank revealed its support for the project, stating that the loan will be utilized for the construction and operation of the hotel.
Owned by the French Louvre Hotels Group, the Golden Tulip Akwaba project is estimated to cost around $100 million. The proposed 16-story building will feature a hotel with 205 rooms, as well as offices and business spaces.
Once completed, the Golden Tulip Akwaba hotel will become one of the largest in terms of capacity in Côte d’Ivoire. The current leader in this regard is the Sofitel Hotel Ivoire, which boasts 426 rooms.
READ: African Hoteliers Facing Finance Challenges
This project aligns with Louvre Hotels Group’s strategic plan to expand its presence on the African continent. As the second-largest hotel group in Europe, they are already established in countries such as Ghana, Nigeria, Senegal, and several others.
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