main navigation menu
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Subscribe to Our Monthly Newsletter
West Bank and Gaza

Nakheel Palestine for Agricultural Investment

$2.17 million
Summary of Proposed Guarantee

This summary covers an investment by Siraj Palestine Fund I, Ltd. (“Siraj”) in Nakheel Palestine for Agricultural Investment. This is an addition to guarantees issued on September 29, 2011 for the project and reflects the acquisition of 30% of Nakheel’s ownership interest by Siraj.

The investor has applied for a guarantee of $ 2.17 million under the MIGA-administered West Bank and Gaza Investment Guarantee Trust Fund. The guarantee will cover the investors’ 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 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. 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.

Environmental Categorization

The project is a category B under MIGA’s Policy on Social and Environmental Sustainability. The key potential impacts for this operation are: stress on water resources; ground and surface water pollution; soil erosion; pesticide use; crop residues and other solid waste pollution; noise and dust; workers health and safety; community health and safety and the use of security guards. These potential impacts are largely reversible and readily addressed through mitigation measures. Click here for a draft Environmental Assessment Report.

Development Impact

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 proposed 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.