CMS has advised Bank Gospodarstwa Krajowego and Korporacja Ubezpieczen Kredytow Eksportowych on a EUR 23 million direct financing for the Treasury of the Republic of Rwanda for the purchase of a Poland-produced milk cooling system.
According to CMS, “the loan was granted under a sovereign finance structure, with the Rwandan Treasury as the borrower directly and Polish exporter Faspol as the beneficiary of the funds. The contract is strategically important for Rwanda's socio-economic development, and its implementation will help reduce milk losses due to improper storage, and increase production capacity and access to dairy products.”
Faspol describes itself as one of the most modern stainless steel tank production plants in Europe.
Bank Gospodarstwa Krajowego is the state-owned Polish national development bank. Korporacja Ubezpieczen Kredytow Eksportowych is the Polish export credit agency.
The CMS team included Partner Michal Mezykowski and Counsel Artur Bednarski.
Editor's Note: After this article was published, CMS informed CEE Legal Matters of its full team composition. It also included Senior Associate Kamila Singer, Associate Iwona Ciszynska, and Lawyer Michal Horelik. Additionally, the firm informed CEE Legal Matters that ENSafrica advised BGK on Rwandan legal matters.