Project Description
Provision of a long-term senior unsecured loan of up to EUR 250 million in favour of P3 Group S.a r.l. ("P3", the "Borrower", or the "Client"), to finance green certified logistics and industrial parks in the EBRD's countries of operations: Poland, the Czech Republic, the Slovak Republic, Romania and Serbia.
Project Objectives
The proceeds of the loan will be used by the Borrower to finance the acquisition, development and construction of warehouses in accordance with P3's Green Financing Framework.
Transition Impact
ETI score: 67
1) Well-Governed: The project contributes towards enhancing P3's climate governance and disclosure practices.
2) Green: The assets financed by the EBRD proceeds will be certified under the BREEAM certification system (to at least a "Very Good" level) and managed in line with the best-practice environmental and energy standards.
Client Information
P3 GROUP SARL
P3 Group S.a r.l., a limited liability company incorporated in Luxembourg, is a long-term investor, manager and developer of warehouse properties in Europe. P3 is 100% owned by GIC, the sovereign wealth fund of the Government of Singapore.
EBRD Finance Summary
EUR 250,000,000.00
Additionality
Additionality in this project stems from the financing structure, climate governance risk mitigation and standard-setting.
Environmental and Social Summary
Categorised B (2019 ESP). The Bank's Environmental & Social Due Diligence (ESDD) was carried out by the use of publicly available information and by in-house due diligence. The ESDD was based on the reviews of the completed ESDD Questionnaire, documentation on the Borrower's Green Financing Framework, the third party review of the Framework (Dec, 2021) and follow up communication with the Client. The ESDD showed that the Client had implemented adequate E&S risk management procedures for their sub-projects. In order to ensure the project's compliance with the EBRD Performance Requirements (PRs) as well as the Borrower's public commitment to sustainability, an Environmental and Social Action Plan (ESAP) has been developed and agreed with the Client.
Technical Cooperation and Grant Financing
n/a
Company Contact Information
Ben Helsing
Ben.Helsing@P3Parks.com
+420 724 870 260
https://www.p3parks.com/
P3 Logistic Parks s.r.o.
Na Florenci 2116/15
110 00 Prague 1, Czech Republic
PSD last updated
16 Mar 2023
Understanding Transition
Further information regarding the EBRD’s approach to measuring transition impact is available here.
Business opportunities
For business opportunities or procurement, contact the client company.
For business opportunities with EBRD (not related to procurement) contact:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
For state-sector projects, visit EBRD Procurement:
Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
Specific enquiries can be made using the EBRD Enquiries form.
Environmental and Social Policy (ESP)
The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.
More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.
OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.
Access to Information Policy (AIP)
The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.
Specific requests for information can be made using the EBRD Enquiries form.
Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.
