News Article Ary Naïm IFC NEPI Rockcastle retail Romania World Bank
by Property Forum | Retail

Retail group NEPI Rockcastle secured a green loan worth €73.5 million from International Finance Corporation (IFC), a member of World Bank, in a bid to expand its sustainable business infrastructure in Romania. 

The IFC said the financing will help mitigate the impact of the pandemic on NEPI’s local operations by enhancing its liquidity. The loan will also target projects in the company’s Green Finance Framework as it aims to become carbon neutral by 2030. 

“Given the COVID-19 pandemic, IFC’s timely funding will provide NEPI Rockcastle with critical access to long-term liquidity, thus helping business flow through the crisis and weather continuous uncertainties in these challenging times,” said Ary Naïm, IFC’s Regional Manager for Central and Southeast Europe. 

NEPI Rockcastle’s property portfolio totaled €5.8 billion at the end of 2020, of which 35% was the share of Romania-based projects. The company is the biggest owner of retail spaces across the country. The group owns and manages 54 retail properties (excluding joint venture) in Romania, Poland, Slovakia, Bulgaria, Hungary, Czech Republic, Croatia, Serbia, and Lithuania.