Four Seasons to get IDB $80m loanThe Four Seasons project. (FP)
By Geralyn Edward, Business Editor | Fri, May 25, 2012 - 12:11 AM
The long-stalled Four Seasons project is getting US$80 million from the Inter-American Development Bank (IDB) to build and open the 110-room luxury hotel.
This has been made clear by Professor Avinash Persaud, executive chairman of Paradise Beach Limited, the company responsible for the Paradise Beach, West Coast project.
Persaud, who was sought out by late Prime Minister David Thomson to get the hotel and villa project restarted after it was abruptly halted in February 2009, said he was delighted at the news that the IDB board of directors had approved the substantial funding.
“It validates that the project is seen by experts externally as a commercially viable project and one that is economically and financially important to the country,” he told the WEEKEND NATION yesterday.
Read the full story in today's WEEKEND NATION.
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