Silverlands Zambia Limited (DFC-2017-SILVERLANDSZAM)

Countries
  • Zambia
Where the impacts of the investment may be experienced.
Specific Location
Serenje District
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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.
Borrower
Silverlands Zambia Limited
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 10.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 28.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Aug 20, 2020


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Project Description

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.

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors
Contact Information

*Contact information not provided at the time of disclosure*