The Project entails an EUR 73,521,134.49 senior, unsecured, 7-year, Green loan to NE Property B.V. for IFC’s own account. The proceeds of the Green loan will be utilized to finance or refinance, in whole or in part, projects in Romania that meet the Eligibility Criteria, as defined and listed in the Use of Proceeds section of NEPI Rockcastle’s “Green Finance Framework” dated June 2020, available at https://nepirockcastle.com/wp-content/uploads/2020/07/NEPI-Rockcastle-Green-Finance-Framework_Final.pdf.

The project is located in Romania.

Not applicable.

The proposed investment is expected to have limited adverse environmental and social impacts during construction and operation. Impacts are expected to primarily occur on site, with construction impacts mainly being short term and not significant. The predicted adverse impacts can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design criteria, as described in the following sections. Accordingly, this is a Category B project as per IFC’s Environmental and Social Sustainability Policy.

Key environmental and social issues applicable for this investment are: (i) effectiveness of the company's management systems, including its internal capacity and staffing, to undertake its operations in a manner that is consistent with IFC Performance Standards; (ii) provision of adequate level of life and fire safety in shopping malls, retail buildings, and office buildings; (iii) energy and resource efficiency features in the design and operation of buildings; (iv) design and construction of new assets in accordance with internationally accepted building codes and standards.