IFC provides €205m in financing for logistics facilities in Romania

WCN Editorial Team 23 Apr 2020 EUROPE BUILDINGS

The International Finance Corporation (IFC) has announced its support for the construction of one million square metres of semi-industrial and logistics properties in Romania, by providing €205m to Warehouses De Pauw NV (WDP).

The green financing provided by IFC, a member of the World Bank Group, fits within a larger €750m financing programme and includes green financing from third-party investors mobilised by IFC under its Managed Co-Lending Portfolio Program and from international commercial banks.

WDP will implement IFC’s Excellence in Design for Greater Efficiencies (EDGE) green-buildings certification across its portfolio in Romania. The certification mandates for at least 20% savings in energy and water in the buildings and in the energy used to produce the building materials.

WDP aims to reduce the utility costs for its tenants and enhance its position with them by getting the properties independently certified.

WDP Romania general manager Jeroen Biermans said: “Romania is central to WDP’s strategy. We plan to own and operate a €1 billion portfolio in the country by 2023, equivalent to about 20 per cent of WDP’s overall portfolio.

“IFC’s green loan, combined with its certifying our entire portfolio with EDGE, will allow us to become the largest owner of certified green warehouses in Romania.”

According to IFC, the commercial property sector is an important sector for building business infrastructure. The investment is expected to help in facilitating the growth of e-commerce, warehousing and distribution sectors along with business process outsourcing market and automotive and retail industries.

IFC Europe and Central Asia director Wiebke Schloemer said: “With this large-scale green investment, we are supporting efforts to increase competitiveness and productivity in Romania, contributing to long-term sustainable growth.”

Till now, IFC is said to have invested more than €4.9bn globally in green buildings. Its EDGE-certified projects are claimed to have saved over 225,000 tons of CO2 emissions across the world.

-------------------------------------------------------------------------------------------------------------------------------------------------------

IFC supports green building construction in Romania. (Credit: Pixabay/SyaibatulHamdi.)

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2021 GlobalData. All rights reserved.