Rikweda Fruit Process Company (MIGA-3611)

  • Afghanistan
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 11, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Rikweda Trading DMCC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Nov 20, 2017

Disclosed by Bank Nov 17, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
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Contact Information
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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/

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