Honduras: $24 Million for Los Micos Beach Project

©image: Salvatore Freni Jr

Ficohsa, BAC Honduras, Ficensa, Guatemala's "Banco de Desarrollo Rural" and Panama's "Banco Pichincha" approved a $24 million structured credit to fund this initiative.

Javier Atala, manager of Ficohsa Bank, noted that this project will contribute to the tourism industry and will help promote Honduras as one of Central America's leading tourist destinations.

The first phase of the project, which required an investment of $43 million, started on January 2010.

Source: elheraldo.hn

More on this topic

Second Stage of Los Micos Beach Starts

September 2011

With the first payout of a $15.9 million from a syndicated loan worth $24 million, construction of the second stage of the tourism project in Honduras will begin.

The banks, Ficohsa, BAC Honduras, Ficensa, Rural Development Bank in Guatemala and Panama's Banco Pichincha had already approved a syndicated loan of $24 million to finance the tourism project.

Honduras: More Investors in Tela Bay

October 2011

Balboa Bank & Trust, will support the Micos Beach & Golf Resort tourism project providing a loan for $2.5 million.

Diana Villeda, chief financial officer of Tela Bay Tourist Development (DTBT in Spanish) announced that an amendment will be made to the syndicated loan agreement, integrating this contribution and bringing the total credit to $26 million.

Guatemalan Bank to Finance Projects in Honduras

September 2011

The Rural Development Bank (Banrural) and the off shore bank Mercom Bank Ltd., will fund luxury tourism projects on the Honduran coast.

Banrural will participate in the financing of the project's Los Micos Beach in Bahía de Tela and Mercom Bank Ltd of the financial group Agromercantil, will fund the project ‘Pristine Bay Resort, Golf & Spa’ on the island of Roatan, Honduras.

Construction Starts at Bahía de Tela

January 2010

The touristic endeavor started with the construction of the first of two hotels, after the government completed basic infrastructure works.

Juan Canahuati, president of the board of project Los Micos Beach & Resort, explained that one of the hotels belongs to Westin Hotel Resorts, and the other to Conrad Hotel and Resorts.