Rikweda (IFC-39718)

Countries
  • Afghanistan
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Dec 20, 2017
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.
Borrower
Rikweda Fruit Process Company
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents 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
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.
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
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IFC 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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