New finance facility will include energy efficiency and inclusion measures
The European Bank for Reconstruction and Development (EBRD) is providing a €34 million loan to the modernisation of Zagreb’s Arena Centre as part of a €123 million financing facility.
The loan will finance refurbishments and energy efficiency improvements of the retail and entertainment complex in the capital of Croatia. It will also comprise inclusion measures for on-the-job training of young people to ensure their access to new and innovative skillsets.
The loan will be provided to Granit-Polus Lanište d.o.o., the owner of Arena Centre, and replace an existing construction loan. In addition there is a tranche for new capital expenditure. This will provide the company with the opportunity to introduce energy efficiency certification and the first “green lease” scheme in Croatia to ensure sustainability comprehensively across the operation, management and usage of buildings.
Vedrana Jelušić Kašić, EBRD Regional Director for Croatia, Slovenia, Hungary and the Slovak Republic, said: “The Arena Centre is a landmark in downtown Zagreb and we are very happy to support the efforts to now turn it into a green milestone. It demonstrates our commitment to the development of Croatia’s capital and we are in addition very proud that our loan will also support local young people getting training for a successful career in the labour market.”
Claudia Pendred, EBRD, Director Property and Tourism, added: “We are delighted to lend and mobilise long-term financing for Arena Centre. We will also be setting new standards for sustainability in the property sector in Croatia by financing a mall which will be BREEAM certified and the first to introduce green leases.”
The EBRD signed its first project in Croatia in 1994 and has invested over €3.57 billion in 191 projects to date. The Bank’s activities cover all areas of the economy but are especially strong in the infrastructure, corporate, financial institutions and energy sectors.