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Togo: WADB releases 6 billion CFAF to finance four star hotel in Abidjan

The West African Development Bank (WADB) has loaned 6 billion CFAF to Chain Hotel Abidjan plc, a subsidiary of Teyliom International, to partially finance the building of a four star hotel in Abidjan, called “Noom Abidjan”, sources from the banking institution told PANA on Wednesday in Lomé.

The financing agreement was signed on Wednesday at the headquarters of WADB in the Togolese capital, Lomé, by Christian Adovelande, governor of WADB and Yigo Thiam, Managing director of Teyliom International.

The hotel will have 179 rooms and is due to be opened in 2016.

WADB is also helping Teyliom International to finance its hotel network in 12 West, Central and Eastern African countries.

In January 2014, WADB gave the company a loan of 3.5 billion CFAF towards the construction of Hotel “Noom Cotonou” in Benin.

The overall volume of financing from the bank to Ivory Coast is estimated at 557 billion CFAF, including 257 billion to the private sector, said WADB.


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