DFF - Lamda Development (EBRD-51534)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 22, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
LAMDA DEVELOPMENT SA
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 22.7
Converted using 2019-11-22 exchange rate.
Loan Amount (USD)
$ 25.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 716.38 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 650
Converted using 2019-11-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 24, 2019

Disclosed by Bank Dec 20, 2019


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Project Description

According to EBRD website, the project will support the financing of the first phase of the Hellinikon Development, which is aiming to regenerate the former Hellinikon Airport area located on the Athens coastal front, into a sustainable and fully integrated commercial, residential and tourist infrastructure. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

LAMDA Development S.A., a holding company listed in the Main Market of the Athens Exchange. The company focuses in the development, investment and management of real estate. The company's development portfolio includes shopping malls, office buildings, residential complexes and a marina

Contact Information

Theodoros Gavriilidis
tgavriilidis@lamdadev.com
+30 210 74 50 683
https://www.lamdadev.com/en/
37A Kifissias Ave. (Golden Hall), Maroussi, Athens 151 23, Greece

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.