The industrial real estate sector in Romania will receive a boost thanks to an agreement signed between the European Bank for Reconstruction and Development (EBRD) and Warehouses De Pauw (WDP). The EBRD will provide WDP with a €150 million senior unsecured loan to support the company’s portfolio expansion in the country.
WDP is planning new development projects at important logistics hubs, enhancing Romania’s infrastructure and creating jobs in a modern and healthy working environment.
The company develops and invests in logistics property such as warehouses and light industrial space. Its existing international property portfolio amounts to around 5 million sqm and is spread over around 250 sites at prime logistics locations for storage and distribution in Belgium, France, The Netherlands, Luxembourg, Germany and Romania.
The EBRD financing will contribute to the implementation of a sustainability management framework, comprising international building certifications and the introduction of other green measures that go beyond WDP’s current practices. These include, among others, an upgrade of the energy and water efficiency performance requirements and the rollout of an energy management system across the entire Romanian portfolio.
The loan will also support the introduction of two replicable and high-quality training programmes for young people; a new pilot accredited dual education programme for students in technical universities; as well as an internship programme aimed to facilitate school-to-work transition.
During the coronavirus crisis, these initiatives have become even more important in order to preserve human capital and ensure that youth are not left behind.
Vlaho Kojakovic, EBRD Director, Property and Tourism, said: “Supporting the development of green industrial real estate is a priority in the EBRD’s Property and Tourism strategy for 2020-24. With this sizeable investment, the EBRD will be contributing to the increase of high-quality, sustainable industrial real estate stock in Romania while also collaborating with WDP on the promotion of local economic inclusion.”
Jeroen Biermans, General Manager WDP Romania, added: “We are confident that the development of high-quality logistics infrastructure promotes sustainability across the entire supply chain, therefore supporting the real economy in Romania. We wish to thank the EBRD for their participation in this exciting journey.”
Not the first green loan for WDP
In April 2020, IFC, a member of the World Bank Group, announced that it is providing a green financing package of approximately €205 million to WDP to support the construction of around 1 million sqm of resource-efficient semi-industrial and logistics properties across Romania.
