European listed logistics developer, owner and manager CTP has joined forces with the IFC, a member of the World Bank Group, to accelerate the green transition in Bulgaria and Poland.
The €441 mln investment marks a first-of-its-kind sustainable financing deal for CTP and will help the company expand its portfolio of energy-efficient and green-certified business parks in these two key markets.
The financing comes from a diverse mix: €225 mln directly from IFC, €135 mln from syndicated B Loan investors, €46 mln through IFC's co-lending program, and €35 mln from ICBC. This marks record syndication for IFC in the commercial property sector, aligning with its objective to leverage private capital for climate action in the region.
IFC's Green Europe Project will help CTP identify, manage, and report climate risks using its Building Resilience Index, while also supporting CTP's overall green goals and positioning it as a leader in sustainable business models.
CTP will be able to build more energy-efficient and environmentally friendly business parks, reducing their carbon footprint and contributing to the fight against climate change.
Richard Wilkinson, CTP Group CFO, said: ‘The IFC-arranged unsecured loan package allows us to realize our ambitious investment plans. CTP has long been a pioneer in the development of sustainable industrial and logistics space, and with CTP's unique park model we also foster the local business ecosystems in the communities where we operate, stimulating the broader economic development of the region.’
Ary Naïm, IFC manager for Central and South Europe, added: ‘Accelerating the region's green transition is one of IFC's strategic priorities. This especially includes decarbonizing the property sector through key investments that promote low-carbon construction and energy-efficient upgrades, and by retrofitting the existing building stocks. With this investment, we reaffirm the private sector's vital role to address climate mitigation and energy transition, promoting regional resilience.’
The project aims to boost the supply chain resilience of Bulgaria and Poland, making their logistics infrastructure more adaptable to disruptions and ensuring smooth delivery of goods. Additionally, the project will respond to the growing demand for manufacturing, warehousing, and logistics facilities driven by the booming e-commerce sector.
