IFC proposes funding for Sheraton hotels in Ethiopia
$80m to fund the refurbishment of the Sheraton Addis and the development of a new Sheraton hotel.
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The International Finance Corporation has disclosed a proposed loan of up to $80m to Midroc Ethiopia to fund the refurbishment of the Sheraton Addis and the development of a new Sheraton hotel.
Midroc is owned by Sheikh Mohammed Hussein Ali Al-Amoudi (75%) and Sofia Saleh Al-Amoudi (25%).
The total estimated cost of the project is up to $116 million.
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