Amata Hotels (IFC-37848)

Countries
  • Myanmar
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 13, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
UNITED INTERNATIONAL GROUP LIMITED
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 13.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Sep 7, 2016


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Project 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
  • International Finance Corporation (IFC)
Contact Information

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/