Translated version of this PSD: Greek
The EBRD is extending a €150 million syndicated loan to Cosmote Mobile Telecommunications SA, a fully owned subsidiary of Greece's largest telecommunications provider OTE Group. The financing package consists of an EBRD A loan of €85 million as part of a €150 million A/B syndicated loan, with €65 million mobilised from commercial lenders.
The funds will finance the expansion of energy efficient 4G/4G+ networks, as well as green and sustainable energy solutions at Cosmote also aimed at improving infrastructure resilience to the
impact of extreme weather, heat stress and high temperatures.
The information and communication technologies (ICT) sector is currently consuming approximately 10 per cent of the global electricity generation and such improvements are becoming ever important. They contribute to a more reliable energy supply, efficient use of energy and climate resilient infrastructure, all integral parts of the ICT business. This will ultimately increase the resilience of Greek companies and reduce climate change emissions. Strengthening the resilience of the economy in the countries where it invests is one of the EBRD's strategic priorities, as is making them greener.
COSMOTE MOBILE TELECOMMUNICATIONS SA
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
The ESDD showed that Cosmote environmental and social risk management systems are in line with EBRD PRs. The Group is publicly committed to good environmental and social sustainability practices and is a member of UN Global Compact. The official 2016 Sustainability Report comprehensively covers all environmental and social sustainability aspects of the Group's activities and objectives. The Group is accredited with ISO 14001 and OHSAS 18001. The Group has corporate fair employee policy in accordance with legal requirements of Greece and the EU as well as the UN Global compact.
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