Globalworth gets EUR 85 mln IFC financing for green projects in Romania

Globalworth, the leading office investor in Central and Eastern Europe (CEE), has signed a loan agreement for EUR 85 million with the International Finance Corporation (IFC), which is part of the World Bank Group.

The loan will further strengthen the company’s liquidity position and provide the group with flexible capital at attractive terms. In accordance with its terms, the loan or an equivalent amount will be allocated to eligible commercial property projects in Romania according to the company’s green loan framework.

“We are delighted, through this loan, to be extending our collaboration with the IFC. It is our first green loan since we launched our inaugural green bond back in 2020 and we believe it firmly demonstrates the sustainability of the Globalworth business and the markets in which Globalworth operates,” said Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director, Globalworth.

The company has an investment property portfolio of modern and energy-efficient commercial property assets spread across Romania and Poland valued at EUR 3.2 bln at the end of 2021. About 90% of its portfolio is made of environmentally friendly properties, according to the company, which aims to reach a 100% green portfolio. IFC’s investment will further allow Globalworth to sustain operations, deliver investment projects, and launch new green projects in Romania.

“IFC strategy in Romania is focused on promoting a green, resilient and inclusive development. We are pleased to strengthen our partnership with Globalworth, leading developer of green buildings and signal confidence in Romania’s office sector at the exit of the COVID-19 crisis,” added Ary Naïm, IFC’s Regional Manager for Central and Southeast Europe.

(Photo source: the company)