Project description
On May 18, 2018, MIGA agreed to issue $20,682,000 in reinsurance to the Overseas Private Investment Corporation’s (OPIC) for coverage it's providing to SilverStreet Private Equity Strategies Soparfi S.à r.l., an agricultural fund focused on investing in sub-Saharan Africa. The reinsurance is issued for a period of up to 5 years against the risks of transfer restriction, expropriation, and war and civil disturbance.[1]
Environmental Categorization
The project is a category B under MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary.
Development Impact
The project’s main development objective is to support agricultural development by expanding land resources under cultivation and increasing yields. The project is expected to benefit the local economy through job creation and opportunities for increased participation of local actors in the supply chain. The project will also improve farming technologies and contribute to skills development.
MIGA’s support of SVL is consistent with Namibia’s Fourth National Development Plan (NDP4). The NDP4 specifically priorities agriculture as a focus sector to create necessary momentum for higher economic growth.
MIGA’s proposed support to OPIC is in accordance with MIGA’s mandate to cooperate with national entities of its member countries, as stated in MIGA’s Convention.
[1] The guarantee expired on January 26, 2023
