The International Finance Corporation (IFC), a member of the World Bank Group, announced on Monday that it is providing a $35.5 million loan to Jordan's Ayla Oasis Development Company to support the development of Ayla Marina Village tourist project in the coastal city of Aqaba.

IFC’s loan is part of a larger $81 million multi-currency package that includes a $35.5 million loan from the European Bank for Reconstruction and Development (EBRD) and a $10 million loan (7.1 million Jordanian dinars) from the Capital Bank of Jordan (CBoJ). 

The package will help finance the completion of the company’s 76-room sustainable hotel, Pulse Hotel, and extend the tenor of existing loans.A related EBRD statement said the hotel building will be certified according to the EDGE Green Building Certification. The statement said the Bank will also fund a technical cooperation package to introduce work-based learning programme in the tourism and hospitality sector through Ayla’s Makarem Training Academy.

(Editing by Anoop Menon) (

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