MEEYATHA DEVELOPMENT LIMITED (FMO-53534)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Yangon
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
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
Jun 2, 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
Meeyatha Development 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.
Investment Amount (USD)
$ 17.50 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)
$ 17.50 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)
$ 17.50 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 @ FMO website

Updated in EWS Jun 22, 2018


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Project Description

Meeyatha Development Ltd. will develop the Yoma Central Project, located in Yangon. The project will consist of a mix-use complex comprised by two office towers, a retail podium, a residential tower, a Westin-managed hotel and serviced apartment building. Also located on the same site, is the 136-year old former headquarters of the British Burma Railway Company, which will be restored to preserve its cultural heritage value and house a Peninsula hotel (not part of the Project).

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Contact Information

*There is no contact information available of the project*

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism