Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Lithuania

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

Apr 9, 2025

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

Akropolis Group UAB

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

Sectors

Climate and Environment
Energy
Industry and Trade

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)

$ 43.78 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 40
Converted using 2025-04-09 exchange rate.

Loan Amount (USD)

$ 43.78 million

Project Cost (USD)

$ 383.09 million

Bank Documents

PSD Translation (Lithuanian)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 9, 2025

Disclosed by Bank May 22, 2025

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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.

As stated in the project disclosure, EBRD invested EUR 40 million as part of a EUR 350 million green bond issuance by Akropolis Group, UAB. The green bond issue was carried out in accordance with the Company's Green Finance Framework, which aligns with the International Capital Market Association Green Bond Principles and Green Loan Principles and is supported by a Second Party Opinion confirming full compliance with these principles. The green bond has a maturity of 5 years and is listed on the Euronext Dublin and NASDAQ Vilnius stock exchanges.

The proceeds from the Bank's investment will support the refinancing of the Company's existing EUR300 million Eurobond and the financing of a portfolio of Eligible Green Projects (as defined in the Framework).

The expected green outcomes of the project are CO2 emission reductions of 182 tn/y, water savings of 1,136 m3/y, and reduced primary energy consumption by 11,017 GJ/y.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

As stated by the EBRD, Akropolis, a limited liability company incorporated in Lithuania, is the leading retail and entertainment centre development and management company in the Baltic states. Akropolis is owned by Vilniaus Prekyba UAB, a limited liability company incorporated in Lithuania.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
Vilniaus Prekyba UAB	Parent Company	Industry and Trade	has unknown relation to	Akropolis Group UAB	Client	Finance

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.

Client - Akropolis Group UAB:

Ernesta Grikinaite-Bartkevice
Email: ernesta.grikinaite@akropolis.lt
Website: https://www.akropolis.eu/
Address: Ozo Street 25, LT-07150, Vilnius, Lithuania

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