Technopark Pulkovo

complete

The EBRD is considering financing of the first phase of Technopark Pulkovo providing high-quality office space and business development services for knowledge-intensive companies and their service providers (the “Project”). The Project will have a gross buildable area of 24,100 sq. m. and gross leasable area of 22,350 sq.m and will represent the first phase of a six-phase development. The Project is expected to have a strong transition impact potential in the following key areas: Technopolis St. Petersburg LLC, a special purpose vehicle incorporated in Russia (the “Borrower”). The Borrower is wholly-owned by Technopolis Plc. (the “Sponsor”), a public limited liability company registered in Finland and listed on the Helsinki Stock Exchange, specialised in providing business environments for knowledge-intensive companies and one of the largest science and technology park operators in Europe. A senior loan of EUR 31.6 million (the “Loan”) to the Borrower comprising an A Loan of EUR 21.6 million for the EBRD’s own account and a B Loan of EUR 10.0 million to be syndicated to commercial banks. UR 63.2 million. 1. Screening categories and rationale for classification Screened B (2008). The construction and operation of a new office building may be associated with some environmental and health issues, which can be readily identified, assessed and mitigated. 2. Environmental and Social Due Diligence The project is at an advanced stage of construction. Outcomes of the environmental and social due diligence to date are the following: the project has gone through St. Petersburg's city planning process and Moskovskoye district's public consultation process; the construction has being carried out with adequate permits; waste water from the project will be discharged into the sewerage network and treated at the municipal waste water treatment plant; and the project has adopted substantial sustainable energy components ensuring high energy efficiency performance. The due diligence, however, identified specific issues such as construction worker health and safety management and potential impact on the neighbouring community. While further clarification of these issues is being currently carried out, an Environmental and Social Action Plan (ESAP) has been developed including the company's measures to address construction worker health and safety and grievance mechanisms for the construction workers and neighbouring community. 3. Implementation requirements The sponsor is required to ensure that the project will comply with EBRD Performance Requirements and agree and implement an ESAP, as well as annually report to the Bank on environmental and social matters. The Bank will monitor the project’s environmental and social performance by reviewing the annual environmental and social report and site visits where necessary and appropriate. None. Technopolis-Saint-Petersburg LLC Address: 30/4 Pulkovskoye shosse, 196158, Saint-Petersburg, Russia Tel.: (812) 448-32-61 Fax: (812) 448-32-62 E-mail: maria.yakubovich@technopolis.fi