BENGAL HOTELS AND RESORTS LIMITED
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Bengal Hotels and Resorts Limited is a group company of the Bengal Group, a well-established, 46 year old, family-owned business house. The Group comprises of six separate legal entities engaged primarily in the production and sale of household plastic products, garments accessories, food & agro products, flexible packaging and a media company.
What is our funding objective?
The proceeds of the loan will be used to fund the construction of the hotel.
Why do we fund this investment?
The Project will improve the supply of business infrastructure, which is important in driving growth in the export sector (primarily garmenting) and other economic activities in Bangladesh. In addition to this, it will create approx. 400 new direct jobs (including several female jobs), as well as temporary jobs during construction. It will also promote knowledge transfer to local staff through training in all areas of hotel operations.
What is the Environmental and Social categorization rationale?
This is a Category B project according to FMO’s Policy because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.
- Website customer/investment
- http://www.bengalgroup.com
- Region
- Asia
- Country
- Bangladesh
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 8/30/2017
- Total FMO financing
- USD 18.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B