EBRD Lends Dragon Capital $12.5mn to Develop “Green” Real Estate

The EBRD has provided Dragon Capital with a $12.5mn loan to develop sustainable real estate in Ukraine. The funds will refinance the reconstruction of Grand Business Center, two warehouses, and stimulate the construction of new commercial and residential properties in the country. The Grand Business Center was the first office building in Kyiv to receive a sustainability certificate under the Building Research Establishment Environmental Assessment Method (BREEAM). Since then three other properties have been certified, with the goal of 4 more by the end of 2021. “Green Paragraphs” will also be introduced into lease agreements whereby tenants will be required to minimize environmental footprints by using water and energy more efficiently. The European bank has set a goal to devote over 50% of annual investments in the green economy by 2025, with Ukraine as one of the top three investment destinations.