<div><h2>Project Description</h2><p></p><p>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. </p><p></p><h2>Project Objectives</h2><p></p><p>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. </p><p></p><h2>Transition Impact</h2><p>ETI score: 67</p><p style="margin-top: -13px;"></p><p><strong>Competitive</strong>: the operation will foster digital inclusion and improved access to high-speed FTTH technology in underserved rural and peri-urban areas in Poland, currently relying on outdated copper-based networks. In addition, the operation will support the Group's capex investments to modernise its existing backbone and cable connections, expand fibre network capacity and add last-mile connections, which are poised to significantly bolster network capacity, elevate data speeds, and ultimately augment the FTTH coverage across Poland.</p><p><strong>Green: </strong>the financing will support the delivery of ambitious climate targets in line with the Company's Net Zero objectives, while increasing the number of Homes Passed served by fibre, which is the most energy-efficient telecom technology.</p><p></p><h2>Client Information</h2><p>FIBERHOST SA</p><p style="margin-top: -13px;"></p><p>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. <strong>Fiberhost </strong>is 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. <strong>Inea </strong>is a retail provider of broadband, television, mobile and fixed-line telephony services in Poland. </p><p></p><h2>EBRD Finance Summary</h2><p>										PLN 450,000,000.00									</p><p style="margin-top: -13px;"></p><p>Provision of long-term financing denominated in Polish zlotys (PLN).</p><p></p><h2>Total Project Cost</h2><p>										PLN 2,770,000,000.00									</p><p style="margin-top: -13px;"></p><p>The Bank's loan is part of a larger syndicated debt financing.</p><p></p><h2>Additionality</h2><p></p><p>EBRD provides a large amount to close the fundraising and necessary to ensure the delivery of Company's expansion business plan. </p><p></p><h2>Environmental and Social Summary</h2><p></p><p><strong>Categorised C under the 2019 ESP.</strong> The client is an existing client of the Bank and corporate level Environmental and Social Due Diligence ("ESDD") was carried out in 2018. The transaction involves refinancing and capex for FTTH rollout and expansion of mobile, telco, broadband services into new regions in Poland. The previous ESDD involved the assessment of construction impacts from laying cables through targeted questions on contractor management procedures, temporary access rights and provisions for a public grievance mechanism. The Environmental and Social Action Plan ("ESAP") focused on improved monitoring of contractors Environmental and Social ("E&amp;S") performance and provision of access to a grievance mechanism to communities affected by the works. The annual environmental and social reporting has been satisfactory and the Bank will continue to monitor the Company's practices through review of annual E&amp;S reports. </p><p></p><h2>Technical Cooperation and Grant Financing</h2><p></p><p>n/a</p><p></p><h2>PSD last updated</h2><p>24 Apr 2024</p><div id="docsLinks" style="display:none"><h2>Related material</h2><ul class="relMat"></ul></div><script type="text/javascript">						var projFinderService = '/project-finder-json?1=1';						var projectId = "54973";					</script><h2>	Understanding Transition</h2><p>	Further information regarding the EBRD’s approach to measuring transition impact is available <a href="https://www.ebrd.com/what-we-do/economic-research-and-data/transition-impact.html">here</a>.</p><h2>	Business opportunities</h2><p>	For business opportunities or procurement, contact the client company.</p><p>	For business opportunities with EBRD (not related to procurement) contact:</p><p>	Tel: +44 20 7338 7168<br/>	Email: <a href="mailto:projectenquiries@ebrd.com">projectenquiries@ebrd.com</a></p><p>	For state-sector projects, visit <a href="https://www.ebrd.com/pages/workingwithus/procurement.shtml">EBRD Procurement</a>:<br/><br/>	Tel: +44 20 7338 6794<br/>	Email: <a href="mailto:procurement@ebrd.com">procurement@ebrd.com</a></p><h2>	General enquiries</h2><p>	Specific enquiries can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Environmental and Social Policy (ESP)</h2><p>	The <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a> and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.</p><p>	More information on the EBRD’s practices in this regard is set out in the <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a>.</p><h2>	Integrity and Compliance</h2><p>	The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.</p><p>	OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to <a href="mailto:compliance@ebrd.com">compliance@ebrd.com</a>. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.</p><h2>	Access to Information Policy (AIP)</h2><p>	The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/public-information-policy.html">Access to Information Policy</a> page to find out what information is available from the EBRD website.</p><p>	Specific requests for information can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Independent Project Accountability Mechanism (IPAM)</h2><p>	If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).</p><p>	IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">Environmental and Social Policy</a> or Project-specific provisions of its <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/access-to-information-policy.html">Access to Information Policy</a>; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.</p><p>	Please visit the <a href="https://www.ebrd.com/project-finance/independent-project-accountability-mechanism.html">Independent Project Accountability Mechanism webpage</a> to find out more about IPAM and its mandate; how to <a href="https://www.ebrd.com/eform/IPAM/Request_form">submit a Request</a> for review; or contact IPAM  via email <a href="mailto:ipam@ebrd.com">ipam@ebrd.com</a> to get guidance and more information on IPAM and how to submit a request.</p><p>	 </p></div>

FiberhostInea telecommunications

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. ETI score: 67: the operation will foster digital inclusion and improved access to high-speed FTTH technology in underserved rural and peri-urban areas in Poland, currently relying on outdated copper-based networks. In addition, the operation will support the Group's capex investments to modernise its existing backbone and cable connections, expand fibre network capacity and add last-mile connections, which are poised to significantly bolster network capacity, elevate data speeds, and ultimately augment the FTTH coverage across Poland.the financing will support the delivery of ambitious climate targets in line with the Company's Net Zero objectives, while increasing the number of Homes Passed served by fibre, which is the most energy-efficient telecom technology.FIBERHOST SAFiberhost 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. is 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. is a retail provider of broadband, television, mobile and fixed-line telephony services in Poland. PLN 450,000,000.00Provision of long-term financing denominated in Polish zlotys PLN.PLN 2,770,000,000.00The Bank's loan is part of a larger syndicated debt financing.EBRD provides a large amount to close the fundraising and necessary to ensure the delivery of Company's expansion business plan.  The client is an existing client of the Bank and corporate level Environmental and Social Due Diligence ESDD was carried out in 2018. The transaction involves refinancing and capex for FTTH rollout and expansion of mobile, telco, broadband services into new regions in Poland. The previous ESDD involved the assessment of construction impacts from laying cables through targeted questions on contractor management procedures, temporary access rights and provisions for a public grievance mechanism. The Environmental and Social Action Plan ESAP focused on improved monitoring of contractors Environmental and Social ES performance and provision of access to a grievance mechanism to communities affected by the works. The annual environmental and social reporting has been satisfactory and the Bank will continue to monitor the Company's practices through review of annual ES reports. na24 Apr 2024Further information regarding the EBRD's approach to measuring transition impact is available here.For business opportunities or procurement, contact the client company.For business opportunities with EBRD not related to procurement contact:Tel: +44 20 7338 7168Email: projectenquiriesebrd.comFor state-sector projects, visit EBRD Procurement:Tel: +44 20 7338 6794Email: procurementebrd.comSpecific enquiries can be made using the EBRD Enquiries form.The ESP and the associated Performance Requirements PRs set out the ways in which the EBRD implements its commitment to promoting "environmentally sound and sustainable development".  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders' concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project's environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.More information on the EBRD's practices in this regard is set out in the ESP.The EBRD's Office of the Chief Compliance Officer OCCO promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to complianceebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.Specific requests for information can be made using the EBRD Enquiries form.If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful e.g. through the Client's Project-level grievance mechanism or through direct engagement with Bank management, individuals and organisations may seek to address their concerns through the EBRD's Independent Project Accountability Mechanism IPAM.IPAM independently reviews Project issues that are believed to have caused or to be likely to cause harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipamebrd.com to get guidance and more information on IPAM and how to submit a request.

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