March 16 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to 250 million euro ($265 million) to Luxembourg-based P3 Group to finance logistics and industrial parks in Serbia, Romania and three other countries in Central and Eastern Europe (CEE), the lender said on Thursday.
P3 will use the proceeds of the loan to finance the acquisition, development and construction of warehouses in Serbia, Romania, Poland, the Czech Republic, and the Slovak Republic in accordance with its Green Financing Framework, the EBRD said in a press release.
P3 Group is a long-term investor, manager and developer of warehouse properties in Europe. P3 is wholly owned by GIC, the sovereign wealth fund of the government of Singapore.
($ = 0.9433 euro)