Amata Hotels (IFC-37848)

Countries
  • Myanmar
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bagan and Inle Lake
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 13, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
UNITED INTERNATIONAL GROUP LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 13.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 29.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Sep 7, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

United International Group Limited ("UIG", the "company" or the "Amata Hotels"), wholly owned by Mr. U Win Aung (the "sponsor") together with his wife, has 3 operational hotels in Myanmar under the Amata umbrella, including:

92-room Amata Ngapali Beach Resort,http://www.amataresort.com

76-room Amata Garden Resort Inlehttp://www.amatainleresort.com, and

31-room Amata Boutique House Baganhttp://www.amatabtqhouse.com.

The sponsor plans to expand his existing operations in Bagan and Inle through the construction of a new 144-room hotel in Bagan in close proximity to the existing Amata Bagan hotel (http://bit.ly/2qeNQW2); and

a new 110-room hotel and 20 villas development on the same site (goo.gl/maps/6C1cDCoqtMR2) as the existing Amata hotel in Inle (together, the "project").

The project will be undertaken in 2 phases:

Phase I comprising of 72 rooms in Bagan, 55 rooms and 20 villas in Inle, and shared facilities such as a lobby, restaurant, etc. in both hotels ("Phase I"), and

Phase II comprising of 72 rooms in Bagan and 55 rooms in Inle ("Phase II").IFC is considering to provide a loan of up to US$13.5 million for the proposed project; with US$8.5 million for Phase I and US$5 million for Phase II.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Person: Ms Wai Wai Khin
Company Name: Amata Hotel Group
Address: No.10. Inya Yeik Tha Street, Kaba Aye Pagoda Road,
Mayangone Tsp. Yangon. Myanmar
Email: mailto:secretary.amata@amataresort.com
Phone: (959) 73065169
Facsimile: (951) 657690

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works