According to bank documents, this project involves a $28.2 million investment by the Fund into four farms in the Luwombwa Commercial Farm Block in the Serenje District of Zambia in Senior Chief Muchinda’s area. The project intends to consolidate the four farms into a single commercial entity. SZL aims to invest in irrigation and infrastructure as well as professionalize farming operations (the “Project”). The farms will primarily grow maize, soya, wheat and barley and will be used to rear cattle. The Fund is seeking joint OPIC and the Multilateral Investment Guarantee Agency (“MIGA”) political risk insurance on its equity and debt to cover expropriation, inconvertibility, and political violence. The total requested coverage for the investment is $28.2 million, of which OPIC’s share is $10.1 million and MIGA’s share is $15.2 million. The Fund will bear the risk of loss for $2.9 million, which is 10% of the total project cost of $28.2 million.
*Contact information not provided at the time of disclosure*