On December 21, 2015, MIGA issued guarantees of €1.5 million ($1.7 million) covering investments by Jerashi Printing and Packaging Company of West Bank and Gaza and Techno Arabia Traffic Signs LLA of United Arab Emirates in Jerashi Flexible Packaging Company in West Bank and Gaza. The guarantees are for a period of up to 10 years against the risks of expropriation and war and civil disturbance.
The project involves the operation of a flexible packaging production facility and provision of packaging design services in West Bank and Gaza. The Project is located on a leased site in Bethlehem Multidisciplinary Industrial Park (BMIP) in Bethlehem City in the southern part of the West Bank.
This project is being supported by the PSI Plus program of the Netherlands Ministry of Foreign Affairs with a grant to cover up to 60 percent of the project cost and an additional amount to cover the MIGA political risk insurance premium for the first three years.
The project is expected to have a positive impact on the local economy through direct employment, knowledge transfer related to flexible packaging technology, and by targeting medium, small, and micro businesses with a product that fits their needs.
This project is aligned with MIGA’s priorities of facilitating investments in conflict-affected environments as well as entities eligible for assistance from the International Development Association (IDA), and with the World Bank Group Assistance Strategy (FY15-FY16) for West Bank and Gaza.
The project was underwritten through MIGA’s Small Investment Program.