The Eurasian Development Bank will extend $44 million loan for construction of the Marriott hotel by the Russian investor in Astana, CA-NEWS referring to the Bank's press service.
The financing agreement for 10-year loan was signed by the EDB and "Astanapromstroy-M" (a subsidiary of "Mospromstroy").
"The complex will provide accommodation services in accordance with the international standards under the world brand Marriott. Also, the possibility of organization of exhibitions, conferences and business events will be provided. The hotel will have 283 rooms. The hotel will be constructed by contracting organizations through the tender procedure.
The concrete works of the 28-storey building of the hotel are finished. The complex is located in the administrative center of Astana - the district "Esil"
The Eurasian Development Bank is an international financial organization founded by the Russian Federation and the Republic of Kazakhstan in 2006. The Bank's mission is to facilitate the development of market economies, economic growth and the expansion of trade and other economic ties in its member states by carrying out investment activities. The EDB member states are Russia, Kazakhstan, Armenia, Tajikistan, Kyrgyzstan and Belarus. The EDB charter capital exceeds $1.5 billion.
EDB to finance construction of Marriott hotel in Astana
The Eurasian Development Bank will extend $44 million loan for construction of the Marriott hotel by the Russian investor in Astana