P3 CEE Expansion

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

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 ID 53573

Status Disbursing

Location

Regional

Business Sector

Real Estate

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

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

Project ID 53573

Status Disbursing

Location

Regional

Business Sector

Real Estate

Notice Type

Private

Environmental Category

Approval Date

06 Apr 2022

Disclosure date

16 Mar 2023

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

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

ong>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 & 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 the 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 its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) 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 also requires its clients to disclose information, as appropriate, about the risks and impacts of 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 of the Bank's activities 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 EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either 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. OCCO will follow-up all matters reported. It will review all matters reported. 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, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. 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 (for example, 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 the 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 and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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P3 CEE Expansion

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)