PROJECT

Projects

Summary of Investment Information

Project Number

46472

Company Name

TIRANA EAST GATE SH.P.K.

Date SPI Disclosed

Aug 18, 2022

Country

Albania

Region

Europe

Projected Board Date

Sep 19, 2022

Environmental Category

B - Limited

Status

Active

Last Updated Date

Feb 10, 2023

Department

Regional Industry MAS LAC & EUR

Industry

other

Previous Events

Approved : Oct 19, 2022
Signed : Nov 7, 2022
Invested : Feb 8, 2023

Sector

other

Project Description

 The proposed investment is a corporate loan of up to €40m (the “IFC Loan”) to Balfin Group (“Balfin”). The IFC loan will (i) refinance existing debt of the Tirana East Gate mall (“TEG”); (ii) fund extension, refurbishment and other related capex of TEG; and (iii) recapitalization of TEG to finance Balfin’s retail parks projects (“the Project”).                                         

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation