The long -term loan will be used to purchase a milk cooling system from a Polish manufacturer, Faspol, after the export contract for the delivery of milk cooling installation with additional equipment and construction components concluded between the Exporter (Faspol) and Importer (Rwanda Agriculture Board).

“The buyer’s credit for Rwanda is a cutting-edge financing when it comes to the Polish banking sector. Due to that the Poland-Rwanda trade relations will open for a new chapter as Rwanda is considered one of the friendliest countries for doing business in Africa.

I am glad that the Polish development bank supports Polish exporters and, at the same time, responds to the developmental challenges of African countries,” said Marek Tomczuk, member of the management board, BGK.

The delivery of nearly 400 installations to local milk collection points is intended to reduce milk losses due to improper storage and increase production capabilities and access to dairy products.

Thus, it is of strategic importance for the socio-economic development of Rwanda.

Dr. Uzziel Ndagijimana, the Minister of Finance and Economic Planning said that the agreement signed on Thursday 26th October 2023, is a testimony of the fast growing bilateral cooperation between Rwanda and Poland.

He further disclosed that the two parties are exploring more opportunities for economic cooperation.

The loan is secured by the Polish export credit agency’s (KUKE) insurance policy. It covers, among others, results of political developments and events defined as force majeure.

The financing agreement was signed on Thursday.