FCS Sanctum (IFC-39505)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Inle Lake, Shan State
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.
Voting Date
May 31, 2018
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
SANCTUM INLE RESORT CO., LTD.
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.
Loan Amount (USD)
$ 6.00 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)
$ 20.00 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 Apr 25, 2018

Disclosed by Bank Apr 11, 2018


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Project Description

According to IFC website, The Sanctum Inle Resort Co., Ltd., a Myanmar-based company, built, and in January 2016 started operating the Sanctum Inle Resort (the “hotel”), a 97-room 5-star boutique hotel at Inle Lake, which is a major tourist location in Shan State, Myanmar. The hotel has a built floor area of about 135,000 square feet, on a 22.35-acre site, and comprises one, two and three story buildings, including a swimming pool and spa facilities. The back of house includes the kitchen for the restaurant and one for the staff canteen, a laundry and mechanical room, and two staff dormitory buildings. IFC is considering a loan of up to US$6 million to support the project’s ongoing operations and optimize its balance sheet (which does not involve any construction activities as the hotel has been operating since April 2016).

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Sanctum Inle Resort
Mr. Philippe Arnaud
General Manager
+959 252 818 800
gm@sanctum-inle-resort.com
Nyaung Shwe Township, Shan State, Myanmar
http://sanctum-inle-resort.com

 

ACCOUNTABILITY MECHANISM OF IFC

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