Rikweda (IFC-39718)

Countries
  • Afghanistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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.
Voting Date
Dec 20, 2017
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
Rikweda Fruit Process Company
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.
Loan 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.
Project Cost (USD)
$ 9.00 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 @ IFC website

Updated in EWS Nov 20, 2017

Disclosed by Bank Nov 15, 2017


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Project Description
Rikweda Fruit Process Company (Rikweda) is a small Afghan agri-business company formed in February 2014 that specializes in the development of Afghanistan's raisin production and processing sector. This is a greenfield project to operate a raisin primary processing plant (Istalif plant) with one production line (Phase I), and a capacity of 15,000 tonnes per annum (tpa). The plant is located in the Kalakan village grape producing plains in the Istalif district of Kabul province, 30 KM northwest of Kabul. The nearest settlement is located approximately 1km away. The construction started in 2014 and the plant was completed in 2017, covering 4 hectares of land with additional 20 hectares used as a demonstration farm. Presently, there are 5 employees at the plant and it is expected that operations will provide direct employment opportunities to approximately 60 workers. IFC is invited to extend a revolving working capital facility up to US$12.5 million to Rikweda (the Project Company).Rikweda will indirectly procure raisins from approximately 3,000 farmers and directly from approximately 10 middlemen, including the Farmers’ Cooperative Union. These farmers will be Rikweda’s primary raw material suppliers with the company providing technical assistance and equipment to improve productivity and enhance agricultural practices.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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