| Project Detail |
Location:
Greece
Project number:
55009
Business sector:
Manufacturing and Services
Notice type:
Private
Environmental category:
C
Approval date:
10 Apr 2024
Status:
Signed
PSD disclosed:
15 Apr 2024
An up to EUR 108.35 million senior secured loan to Olympic Commercial & Tourist Enterprises SA ("Olympic", or the "Company") in Greece. The loan consists of €40.6 million of EBRD financing, blended with €67.7 million of RRF loans channelled through the Greek Ministry of Finance to the EBRD/EU Special Fund. The project is the fifth sub-operation under the EBRDs Greek Recovery and Resilience Facility (RRF) Co-Financing Framework, implemented as part of the "Greece 2.0" National Recovery and Resilience Plan, funded by the European Unions (EU) NextGenerationEU programme.
Project Objectives
The loan will finance the purchase of new Electric Vehicles (EVs) to replace Internal Combustion Engine (ICE) vehicles in Olympics leasing and rental portfolio (the "Project"). The total Project cost of EUR 135.43 million will be funded from the EUR 108.35 million proposed debt-financing package and EUR 27.09 million from Olympics own funds. The Project addresses the strategic directions of the EBRD Country Strategy for Greece, which aims to "support transition to a green, low-carbon economy" and "support the decarbonisation across sectors through direct engagement with private clients" and is in line with Greeces Recovery and Resilience Plan by "contributing to clean urban transport rolling stock", promoting the decarbonisation of the Greek economy. |
