Afreximbank (African Export – Import Bank) has granted a financing facility of US$ 30 million to Joyau Des Caraibes Limited (JDC), the Caribbean subsidiary of ORA Developers, for the expansion of Silversands Hotel in St. Georges, Grenada.
Grenada is a significant tourist destination, attracting more than 2.5 million visitors annually.
Silversands Hotel is part of a prestigious chain of hotels owned by ORA Developers, a well-known Egyptian company specializing in luxury lifestyle destinations in unique global locations. The funds will be used for the construction of additional rooms, restaurants, retail outlets, and other recreational facilities to enhance tourism revenues.
The funding, aimed at enhancing hotel infrastructure and related businesses, is set to enhance the tourism sector, generate employment opportunities, and stimulate economic growth in Grenada. It highlights our dedication to promoting mutual growth and prosperity among Africans within Africa, the Caribbean, and other regions. This initiative, supported by an African entrepreneur, reinforces the Bank’s approach of strengthening Afri-Caribbean investment partnerships.
Afreximbank has led multiple trade and investment missions to the Caribbean Islands as part of its Diaspora strategy, enhancing business-to-business and business-to-government relationships.
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