"U.S. Agency Approves $3 Million Loan for Hotel Project in Turkey
March 23 2005
Press Release - U.S. Department of State
The U.S. Overseas Private Investment Corporation (OPIC) has pledged a $3 million loan to convert an historic 19th century Ottoman building in Istanbul, Turkey,to a small hotel, in support of U.S. private-sector investment in that country, according to a March 18 OPIC press release.
The hotel will be on the Asian side of Istanbul where there is significant demand for hotel accommodation.
�Istanbul is one of the great cultural attractions of the world, its rich history offering significant investment potential for the tourism industry,� said OPIC acting President and Chief Executive Officer Ross Connelly. 'OPIC is pleased to support a U.S. small business that has identified an underrepresented niche in the Istanbul hotel market, and in the process will support the development of the Turkish economy.' "
Harold Doan and Associates Ltd. - U.S. Agency Approves $3 Million Loan for Hotel Project in Turkey
