Financed ProjectsRadisson Odessa Project

Identification Code:

OP/16/0049

Total Operation Cost:

43.900.000

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

Mid-term project finance loan to the Borrower in the amount of EUR 15.4 million with the proceeds earmarked to finance the construction of 4 stars Radisson BLU business hotel and family resort in Odessa, Ukraine

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Loans

Sector:

Consumer Discretionary

Domain:

Private

Borrower/Client:

LLC Mega Comfort Development; a limited liability company organized in Odessa, Ukraine

Co-Financiers/Participants:

Guarantors/Sponsors:

N.A.

Developmental and Regional Cooperation Impact:

The Project will contribute to the development of tourist infrastructure in the major Ukrainian city. It will promote both domestic and international tourism, including visitors from BSTDB members Russia, Greece, Turkey and Moldova. The Implementation of this Operation is also expected to create: 1. High quality hotel and business conferencing center in the major city of Ukraine according to the best industry standards, bringing benefits to consumers. 2. Direct job creation with estimated more than 700 jobs (over 300 jobs in the hotel and more than 400 people in hotel service and supplies). Additionally, during the construction stage, an extra 1,000 jobs will be created in Odessa. 3. Additional tax revenues

Environmental Classification and Impact (summary):

No significant E&S risks and impacts are envisaged. The E&S DD will focus on issues normally associated with construction of real estate for commercial use.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org