Tsunami Tourism Loan Facility

completed

The proposed $150 million project is to establish a Tourism Loan Facility to support tourism companies severely affected by the recent tsunami disaster in South and Southeast Asia. The Loan Facility will finance: - the reconstruction/rehabilitation of tourism properties damaged by the tsunamis; - the increased working capital requirements of tourism companies due to slowdown in demand in the region; - the acquisition, by long-term strategic investors of hotels and other lodging properties that have suffered damages and face uncertain market prospects as a result of the tsunamis; and - the debt restructuring of tourism companies facing financial difficulties due to damaged property and/or slow-down in demand.