News Article Globalworth green loan IFC Mihai Zaharia office Romania World Bank
by Property Forum | Investment

Property group Globalworth has inked a 6-year green loan deal worth €85 million with the International Finance Corporation (IFC), which is a member of the World Bank.

The company said the loan will increase its liquidity position and provide flexible capital on attractive terms. The funding will be allocated to eligible commercial property projects in Romania according to Globalworth's green loan framework.

“It is our first green loan since we launched our inaugural green bond back in 2020 and we believe it firmly demonstrates the sustainability of the Globalworth business and the markets in which Globalworth operates," said Mihai Zaharia, Globaworth’s Head of Investments Romania and Group Capital Markets Director.

The company’s property portfolio totalled €3.2 billion at the end of 2021, while its rental income reached €183.7 million from 66 projects, mainly office assets. Globalworth’s green building portfolio was valued at €2.6 billion last year, according to a public report.