Clifford Chance has advised the European Bank for Reconstruction and Development on its provision of two loans to the city of Walbrzych, Poland.
According to Clifford Chance, “Walbrzych will become a participant in the EBRD ‘Green Cities’ program, intended to promote the sustainable development of cities by supporting investments in such areas as clean urban transport, waste management, energy and thermal upgrading.”
Clifford Chance reported that the first loan of PLN 22.5 million and an uncommitted tranche of PLN 58 million will be used for thermo-modernization and related retrofitting of municipally-owned residential buildings, while the second loan of PLN 54.2 million will be used for the construction of Walbrzych road bypass.
The Clifford Chance team included Partners Andrzej Stosio and Jared Grubb, Counsel Irena Floras-Goode, and Associate Piotr Weclawowicz.