Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Afghanistan
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Multilateral Investment Guarantee Agency (MIGA)
Status: Proposed
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2018-01-11
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Rikweda Trading DMCC
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
Investment Type(s): Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 9.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2017-11-20
Disclosure Date: 2017-11-17
Rikweda Fruit Process Company
MIGA-3611

Project Description
This summary covers (i) an equity investment of US$6 million by Rikweda Trading DMCC and (ii) the personal loan guarantees of US$3 million from Mr. Mase Rikweda and Mr. Sulayman Rikweda, provided for Rikweda Fruit Process Company in Afghanistan. The investors have applied for MIGA guarantees of up to US$9 million in total for a period of up to 10 years against the risk of war and civil disturbance. The greenfield project involves the establishment and operation of a raisin producing and processing plant, Rikweda Fruit Process Company, located in Kabul, Afghanistan. The plant will have a 15,000 tons per annum production capacity and will directly procure raisins from approximately 3,000 farmers. Rikweda Fruit Process Company was formed in 2014 to specialize in the agricultural and horticultural development of Afghanistan's raisin production and processing sector. Rikweda will directly procure raisins from approximately 3,000 farmers, providing them with sustainable access to consumer markets. Technical assistance and equipment will be provided to farmers to improve productivity and enhance agricultural practices. As such, the project will support a domestic value chain by doubling Afghanistan's local processing capacity for raisins. Exports of raisins would also generate additional revenues. The project will provide employment opportunities for 60 direct jobs and a number of indirect jobs across the value chain. By supporting the female producers, the Project will help pomote women's role in the sector. MIGA's support for this investment is aligned with the World Bank Group's Afghanistan - Country Partnership Framework for the period FY17 to FY20, particularly with regard to supporting inclusive growth by laying the foundation for private sector development. This project is also aligned with MIGA's strategy of facilitating investments in conflict-affected environments, as well as countries eligible for assistance from the International Development Association. The project would be underwritten through MIGA's Small Investment Program.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/