The Development Bank of Southern Africa (DBSA) signed a deal on Monday for a loan of R56-million for the construction of a hotel in Bel Ombre on the southern coast of Mauritius.
The loan was granted to Mauritius company Salt Lake Resorts for the construction of the Voile d’Or (Golden Sail) luxury resort hotel, the DBSA said in a statement.
The hotel project forms part of a broader initiative for the development of the Bel Ombre sub-region — which will also involve the construction of an 18-hole golf course and four more hotels, as well as residential and commercial developments.
”The integrated approach is aimed at sustainable and economically viable coastal development,” the statement read.
”The implementation of the plan will have a positive impact on local economic development, create job opportunities, stimulate entrepreneurial development and contribute towards foreign exchange earnings.”
The government of Mauritius has approved the development of an integrated tourist development plan for the sub-region, the statement said.
A development fund was created at central government level to which each of five hotel promoters had to contribute R5,5-million for community enhancement programmes.
These will include education, the construction of sports facilities and general social upliftment.
The DBSA will co-finance the project with local Mauritius banks, the statement said. The Voile d’Or is expected to start operating in November.
The DBSA aims to boost development in Southern Africa by providing finance, expertise and infrastructure. — Sapa