The European Bank for Reconstruction and Development is providing a €250 million green loan to NE Property BV, a subsidiary of retail real estate group NEPI Rockcastle, to fund sustainable property investments across Central, Southern and Eastern Europe.
The financing will be an eight-year senior unsecured loan and will support new developments, upgrades and expansions of “green retail assets”, primarily in Romania, Bulgaria, Poland and Hungary, the EBRD announced on Monday.
NEPI Rockcastle is Europe’s third-largest listed retail real estate company by investment portfolio value and the largest owner, operator and developer of shopping centres in Central and Eastern Europe.
Its €8.2 billion portfolio spans eight countries in the region and includes 60 properties.
The EBRD said the money will finance projects under NEPI Rockcastle’s Green Finance Framework, which it said is aligned with the Green Bond Principles of the International Capital Market Association and the Green Loan Principles of the Loan Market Association — voluntary guidelines used in the market for labelling and managing green finance.
Eligible projects must either achieve an internationally recognised green building certification or deliver defined, measurable improvements such as lower-carbon installations or better energy performance.
Training and digital skills programme
Alongside construction and refurbishment work, the project includes a multi-year training programme for more than 300 employees focused on digital, AI, cybersecurity and environmental-management skills, the EBRD said.
The bank noted all of its financing for the project is classified as green and is aligned with the Paris Agreement.
