IFC Approves Multi‑Million Hotel Loans in Zambia, Ethiopia and Supports Djibouti Grain Warehouse

The International Finance Corporation (IFC) is weighing a loan of up to $50 million for two Asmara Holdings projects: a Hilton‑branded hotel in Lusaka, Zambia, and a grain‑storage warehouse in the Damerjog Industrial Free Zone of Djibouti. The financing, pending board approval on 15 September, would help construct the Hilton Lusaka Pyramid and strengthen food‑supply chains in the Horn of Africa.

Separately, IFC has committed an $80 million long‑term loan to MIDROC Ethiopia PLC to refurbish the Sheraton Addis (Luxury Collection) and develop a new Sheraton hotel in Addis Ababa. The project is expected to create more than 9,400 direct and indirect jobs, promote gender‑inclusive employment, and deliver Ethiopia’s first green‑certified hotels ahead of the UN Climate Change Conference in 2027.