Early Warning System

Countries

Poland

Geographic location 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

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Feb 7, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Fiberhost S.A. and INEA s.p. zo.o

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Communications

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 111.62 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 450
Converted using 2024-02-07 exchange rate.

Project Cost (USD)

$ 687.08 million

Bank Documents

Translation: Fiberhost/Inea telecommunications (Polish)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 20, 2024

Disclosed by Bank Apr 24, 2024

Contribute Information
Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a senior secured loan in favour of Fiberhost S.A. ("Fiberhost") and INEA s.p. zo.o ("Inea") (together, the "Group", the "Company"), a leading wholesale fibre broadband operator and a retail telecom services provider, respectively, incorporated in Poland. The Bank's financing will support Fibre-to-the-Home ("FTTH") network expansion and modernisation, as well as the commercial development of Inea.

EBRD will co-finance the capex plan of the Group, which supports its network expansion and modernisation, as well as the commercial development of Fiberhost and Inea. A large portion of the capex will be allocated to connecting households in rural and peri-urban areas of Poland to fibre technology.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised C under the 2019 ESP.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior secured loan of PLN 450,000,000.00.

Total Project Cost: PLN 2,770,000,000.00

The Bank's loan is part of a larger syndicated debt financing.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Fiberhost and Inea are subsidiaries of ODIN Holdings S.a.r.l ("ODIN Holdings"), a holding owned by Macquarie Infrastructure and Real Assets ("MIRA"), a leading infrastructure private equity firm, since 2018. Fiberhostis a leading Polish wholesale broadband operator, providing access to backbone and distribution networks to internet services providers ("ISPs") in 8 out of 16 Polish regions. Ineais a retail provider of broadband, television, mobile and fixed-line telephony services in Poland.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Fiberhost SA	Client	-
-	-	-	-	INEA s.p. zo.o	Client	-
-	-	-	-	ODIN Holdings S.a.r.l	Parent Company	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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