IFC plans to extend $6m financing to Sanctum Inle Resort in Myanmar

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Photo: Sanctum Inle Resort website

The International Finance Corporation (IFC), the World Bank’s private lending arm, has proposed to invest $6 million in a long-term financing facility for Sanctum Inle Resort, a five-star hotel project in Inle Lake, Shan State.

The 97-room hotel is owned and operated by Sanctum Inle Resort Co Ltd, whose shareholders include Su Su Tin and husband Than Toe Kyaw who own 90 per cent and 10 per cent respectively. Tin is a local entrepreneur engaged in tourism, hospitality and retail industries.

Established in April 2016, Sanctum Inle Resort has raised $20 million through a combination of bank loans, investor loans and equity.

“IFC will provide long-term capital for the project that will replace the short-term loans and will optimize the balance sheet of the company,” according to the filing. The company has a service agreement in place with Apple Tree Group (Singapore) for its hotel management services

Read full article at Deal street Asia: https://www.dealstreetasia.com/stories/ifc-sanctum-inle-resort-96012/

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