IFC proposes $51.4m investment in India's Chalet Hotels

The International Finance Corporation (IFC), a member of the World Bank Group, has proposed an investment of $51.4 million in Chalet Hotels Limited (Chalet), an Indian owner/developer of hospitality, commercial and retail assets, according to a disclosure.

IFC’s loan will be used to complete the construction of commercial assets, maintenance, and refurbishment of its hotels, and to meet the general corporate liquidity needs at existing hotels. Part of the loan will be to complete the construction of a “green”, IFC EDGE-certified commercial asset.

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