📋 Tender Overview
Location: Jordan
Project number: 54934
Business sector: Property and tourism
Notice type: Private
Environmental category: B
EBRD Finance Summary: USD 35,500,000.00
Total Project Cost: USD 305,000,000.00
Project Description
Provision of a long-term senior secured loan of up to USD 35.5 million (the "Loan") in favour of Oasis-33 Mixed Use Development Company ("Oasis-33" or the "Company"). The Loan will be a part of a multi-bank facility that will be used to build upon the Bank's initial transaction with the Company and support the continued development of Ayla Marina Village and the recovery of tourism activities in Aqaba.
Project Objectives
The Loan will be used to (i) extend the Company's existing debt maturities and (ii) complete the construction, equipment, and putting into operations of a new hotel in Ayla Marina Village.
Transition Impact
ETI score: 100
PTI 182
From the Transition Impact perspective, the project is treated as an extension of a previous transaction with the client Ayla Oasis Regeneration Project Aqaba. The transition impact of the project will be derived from:
1) Inclusive: The project promotes strengthening human capital and closing critical skills gaps in Jordan by (i) introducing Jordan's first work-based learning programme to support the tourism, hospitality, and retail sectors and (ii) engaging with governing authorities to develop a regulatory framework for work-based learning.
2) Green: The project will support the Company in obtaining EDGE certification for the new hotel currently under construction.
