So Healthy Food Production LTD Company (MIGA-3516)

Countries
  • Afghanistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project 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.
Borrower
Nutrition and Education International
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 2, 2017

Disclosed by Bank Oct 12, 2016


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Project Description
Project Description This summary covers an investment by Nutrition and Education International in So Healthy Food Production LTD Company in Afghanistan. The investors have applied for MIGA guarantees of up to US$3.0 million for a period of up to 10 years against the risk of war and civil disturbance. The project involves the establishment and operation of a sterilized soy milk processing factory, So Healthy Food Production LTD Company, in the suburbs of Kabul, Afghanistan, for which Nutrition and Education International provides processing equipment through an equipment lease agreement. Environmental Categorization The project is a category B under MIGA's Policy on Social and Environmental Sustainability as it has potentially limited adverse social or environmental impacts that are largely reversible and readily addressed through mitigation measures. Key social and environmental risks and impacts are related to the development and implementation of management systems covering environment, health, safety, and food safety; workers' and community health and safety; and resource efficiency and pollution prevention (for example waste management, emissions controls, etc.). The client will prepare an Environmental Management Plan to manage the potential risks and impacts consistent with MIGA's Performance Standards. Development Impact Since 2003, Nutrition and Education International (NEI) has endeavored to establish a self-sustainable soybean industry with the goal of eradicating protein malnutrition in Afghanistan, especially among women and children at risk. The proposed project by NEI will be the first sterilized soy milk processing factory, which will contribute to supplementing lack of nutritious food consumptions in Afghanistan. The project is expected to create more than 40 new jobs, out of which 20 jobs are for females. A training program will substantially increase the knowledge level of local employees and improve their competitiveness. MIGA's support for this investment is aligned with the World Bank Group's Interim Strategy Note for Afghanistan, particularly with regard to providing domestic sources of growth and jobs. This project is also aligned with MIGA's objective 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
  • Multilateral Investment Guarantee Agency (MIGA)
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/