This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
Nakheel Palestine for Agricultural Investment (MIGA-989)

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.
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
Jun 16, 2011
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.
Al Mashriq Real Estate Company</br>Palestine Industrial Estates Development Company</br>The Palestin
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Amount (USD)
$ 6.50 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

Disclosed by Bank May 3, 2011

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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.
On September 29, 2011 and June 14, 2012, the MIGA-administered West Bank and Gaza Investment Guarantee Trust Fund issued guarantees supporting Nakheel Palestine for Agriculture Development. The guarantee holders are Mashriq Real Estate Company, Palestine Industrial Estate Development Company,  The Palestinian Recycling Company (Tadweer), and Siraj Palestine Fund. The guarantees, totaling $6.6 million, are covering the investors’ $5.03 million equity investment in Nakheel for a period of up to 10 years against the risks of expropriation and war and civil disturbance. The project involves the development of two Medjool palm farms in Jericho by Nakheel. The two main products that will be produced by the farms are Medjool dates and Medjool seedlings. Nakheel will plant the palm trees and harvest them. The company plans to have its own packing and storage house by 2012. It is envisaged that 20 percent of the project’s production will be supplied to the local market while the remaining 80 percent will be exported mainly to the European market. The project will help revitalize the agriculture sector in the West Bank and Gaza. It will be the first large-scale project for Medjool dates. Currently, most Palestinians who are cultivating Medjool dates and palms are smallholder farmers. It will also contribute to the West Bank and Gaza’s foreign exchange earnings as it is expected to export a large portion of the production internationally. The project will be employing 33 permanent workers and 130 temporary workers. This project is also aligned with MIGA’s objective of facilitating investments in conflict-affected environments as well as entities eligible for assistance from the International Development Association.
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 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 You can learn more about the CAO and how to file a complaint at

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