IFC extends EUR 205 mn loan to Belgian developer for projects in Romania

Belgian developer Warehouses De Pauw (WDP), which operates over 950,000 sqm of logistics and industrial spaces in Romania, has received a EUR 205 million loan from the International Financial Corporation (IFC), World Bank's investment division.

WDP will use the money to finance the construction of one million square meters of EDGE certified semi-industrial and logistics properties in Romania.

WDP plans to expand its portfolio in Romania from EUR 500 million to EUR 1 billion in 2023 and the IFC financing will support part of the expansion.

EDGE is an IFC certification for "green" buildings. EDGE certification translates into savings of at least 20% in the energy and water consumption of buildings and in the energy used to produce construction materials.

By independently certifying its buildings, WDP will reduce the utility costs for its tenants and enhance its position with them.

For IFC, the EUR 205 mln loan is part of a EUR 750 mln "green loan" mobilized from third-party investors and international commercial banks under its co-lending portfolio program.

This is the first "green loan" granted by IFC to the real estate sector in the Europe and Central Asia (ECA) region.

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