international-finance-corporation-to-provide-us13-5-million-loan-to-united-international-group-ltdThe International Finance Corporation has announced that it will provide the United International Group Ltd (United Group) with a loan of US$13.5 million. The United Group – which trades as Amata Hotel Group – will use the funds to expand its existing operations  and to part-fund the construction of a new 114-room hotel in Bagan and a new 110-room hotel in Nyaungshwe, Shan State. The loan will be provided in two tranches of US$8.5 million and US$5 million respectively.  The United Group operates the Amata Ngapali Beach Resort in Thandwe, the Amata Garden Resort in Nyaungshwe, Hsipaw Resort in north-eastern Shan State and Amata Boutique House in Bagan. It also has ballooning operations in Bagan, Mandalay, Inle, Pingdaya and Ngapali. Read more…