Can-Pack Ukraine Ltd.

MIGA issued three guarantees totaling $48.8 million to Can-Pack S.A. (Can-Pack) of Poland for its investment in Ukrainian subsidiary, Can-Pack Ukraine Ltd. The guarantees cover the equity investment, a shareholder loan and a management and technical assistance contract. All three guarantees provide coverage against the risks of expropriation, war and civil disturbance and transfer restriction. The guarantees for the equity investment and the management contract cover a period of 15 years, and the guarantee for the shareholder loan covers a period of five years.

The project involves the construction and operation of an aluminum beverage can pro-duction plant, the largest private Polish investment in Ukraine to date. It will increase Can-Pack’s production capacity in order to meet the growing demand for canned beverages in Ukraine and will allow it to maintain market share in Ukraine, Russia, and other members of the Commonwealth of Independent States. The project will help create approximately 110 local jobs and about 145 additional jobs during the construction phase. Can-Pack will provide ongoing training throughout the duration of the project. The project is also expected to generate significant exports, reduce imports and provide upstream benefits for local suppliers.