BRPL Expansion (IFC-38935)

Countries
  • Bhutan
Where the impacts of the investment may be experienced.
Specific Location
Amankore
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
Proposed
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.
Borrower
Bhutan Resorts Corporation Limited
The holder of the loan, grant, or other investment.
Sectors
  • Construction
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)
$ 5.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 22, 2018

Disclosed by Bank Jul 13, 2017


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Project Description

This project finances the expansion of another IFC project, implemented by Bhutan Resorts Private Limited, that will build 6 luxury guest houses with 8-16 rooms in Amankore, Bhutan. This will allow  Bhutan Resorts Private Limited to strengthen its position as one of the market leaders in the high-end tourist space in Bhutan.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The Company is part of the Aman Resorts group of luxury hotels (“Aman Group”). The Project sponsor is Silverlink Resorts Limited (“Sponsor”), a privately-held holding company for the Aman Group’s hotel properties. Silverlink owns 90% of the shareholding in BRPL while the remaining 10% is held by Bhutan Tourism Corporation Limited.

Contact Information

PROJECT CONTACTS

Bhutan Resorts Private Limited
Sonam Wangchuk
Human Resources Manager
(975) 2 331 333
swangchuk@aman.com
Administrative Office, Upper Motithang, Box 831, Thimphu, Kingdom of Bhutan
www.aman.com

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/