As part of the cooperation between the West African Development Bank (BOAD) and FAGACE, Mr Henri Marie DONDRA, Managing Director of FAGACE, and Mr Bassary TOURE, Vice President of BOAD, signed on Wednesday 07/10/15 in Cotonou a guarantee agreement for the sum of 4.9 billion CFA francs in favor of KALYAN HOSPITALITY DEVELOPMENT TOGO SAU.
A guarantee agreement was also signed between the Fund and the promoter, represented by Mr Senthilkumar CHIDAMBARAM RAJAGOPAL, Vice-President in charge of Business Operations & New Ventures at the KALYAN Group.
This agreement will enable KALYAN HOSPITALITY DEVELOPMENT to mobilize financing of 10 billion francs from the West African Development Bank for the rehabilitation of the 02 Février hotel in Togo. Eventually, the Radisson blu Hôtel du 02 Février, a strong symbol of Togo’s history, will become part of the hotel network of “The carlson rezidor hotel” Group, with 64 apartments and 256 rooms on 29 floors, to meet the growing demand for luxury accommodation in Lomé.
This endorsement for KALYAN HOSPITALITY DEVELOPMENT brings the total volume of the Fund’s guarantee commitments in Togo to 39 billion francs.
