Washington, D.C., June 30, 2010—IFC,
a member of the World Bank Group, will provide $7.5 million in financing
to SCIOP S.A to complete the OASIS Complex, a mixed-use hotel complex in
The IFC investment will create jobs,
generate business opportunities for small and midsize enterprises, promote
sustainable growth in the tourism industry, and provide essential business
infrastructure in a city devastated by the effects of the January 2010
SCIOP S.A. is owned by a group of Haitian
investors dedicated to being part of Haiti’s reconstruction with foreign
partners. The IFC investment will enable SCIOP S.A. to resume construction
of the Oasis Complex, with more ambitious objectives than before
the earthquake. Strategically located in the center of Pétion-Ville, a
business and residential area in Port-au-Prince, the project’s construction
was halted following the earthquake.
The complex now will include a 132-room
business hotel, a retail component, a conference center, restaurants, and
parking facilities. It will increase the availability of international
standard hotel rooms in Haiti.
The project also will create direct
and indirect employment opportunities for local Haitians, and generate
supply linkages for local vendors, especially microentrepreneurs and small
“In the wake of the earthquake, IFC’s
financial support and technical expertise to our group were key in finalizing
the outline and scope of the Oasis project. IFC’s support now allows us
to restart the construction of this landmark development that will be,
upon completion, a tangible symbol of Haiti’s rebirth from the ashes of
the January 12 earthquake,” said SCIOP S.A.’s CEO Jerry Tardieu.
“IFC is pleased to be part of the reconstruction
efforts in Haiti by supporting SCIOP S.A. The Oasis Complex will lodge
one of the first hotels to be completed in Port-au-Prince following the
earthquake,” said Dimitris Tsitsiragos, IFC Director for Global Manufacturing
and Services. “The project also will send a strong signal to potential
investors, and will help raise industry standards in areas such as life
and fire safety practices and earthquake- resistant building design.”
IFC has invested $68.6 million in Haiti’s
private sector since 2006. IFC’s focus is to ensure access to finance
for local firms and encourage the development of infrastructure, such as
ports, roads, energy plants, and telecommunications capabilities. IFC has
ramped up its advisory services to improve the country’s business climate,
attract investors, and simplify regulatory frameworks for special economic
zones. For more information, visit: www.ifc.org/lac.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing capital for private enterprise, and providing advisory and risk
mitigation services to businesses and governments. Our new investments
totaled $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.
About SCIOP S.A.
Société de Construction d’Immeubles
& d’Ouvrages Publics SA, or SCIOP S.A., is a corporation governed
by Haitian law and established in 2006 to undertake real estate developments
in Haiti. The company is composed of a large number of individual and corporate
investors, and has a board of directors composed of 11 existing shareholders.