My profile:
The U.S. Overseas Private Investment Corporation has announced it will provide an investment guarantee for a $100 million agribusiness investment fund in Russia and the other former Soviet states.
OPIC -- a U.S. government agency designed to help U.S. companies invest overseas by offering loans, loan guarantees and political risk insurance -- announced Tuesday that it would guarantee $75 million of the debt portion of the fund.
"This fund will invest in a whole range of agricultural enterprises -- from fisheries to feed storage to consumer foods -- and in the process improve production, packaging and distribution of food," said OPIC president Ruth Harkin. "This should mean more, higher quality food and greater choices for consumers in many former Soviet states."
The fund will be managed by the Omaha, Nebraska-based Agribusiness Management Co., a subsidiary of the America First Companies, and investors are expected to include major U.S. agribusiness firms, OPIC said in a press release. The fund will be advised locally by the International Moscow Bank.
According to OPIC, the fund intends to make equity investments in 10 to 15 companies over the next three to five years. The investments are likely to be in the range of $15 million to $20 million each.
OPIC says the investment funds it supports operate only in conjunction with other investors, usually generating a total investment of 10 times the amount invested by the fund. Thus, the agribusiness fund could leverage up to $1 billion in investment, the agency says.
"Projects can apply to the fund when they don't have sufficient equity," Eric Luhmann, OPIC's chief representative in Moscow, said Wednesday.
OPIC supports three other private equity funds in Russia and the former Soviet Union, guaranteeing:
?75 percent of up to $300 million for the NIS Major Projects Fund managed by Lehman Brothers;
?$20 million of the $180 million First NIS Regional Fund managed by the Barings group;
?$112.5 million of the $155 million Russia Partners Fund, sponsored by Paine Webber Inc.
Agricultural Investments Guaranteed
08 December 1994
|
|
Tweet |
|
This article has no comments. Be the first to leave a comment |
Discussion
Comments
To post comments you must be registered
Comments via Facebook
Most Read
1.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
2.
Ruble Hits Lowest Rate in 3 Years
The ruble dipped to a three-year low Thursday as oil prices fell further.
3.
Putin's Foreign Policy Goes on the Road
In a symbolic gesture, President Vladimir Putin on Thursday arrived in Minsk to pay his first foreign visit as head of state to controversial Belarussian leader Alexander Lukashenko.
4.
Superjet Flight Data Recorder Found Near Volcano Crash Site
Villagers have found the flight data recorder from the Russian plane that slammed into an Indonesian volcano three weeks ago, killing 45 people.
5.
European Debt Crisis Driving Workers East
Despite its inconveniences, Moscow has become a magnet for foreign job-seekers, as unemployment in Europe is hitting record highs amid the debt crisis.
6.
Duma Deputy Robbed at Ritzy Hotel
State Duma Deputy Gennady Gudkov was robbed at the upscale Hotel National across from the street from the Kremlin after a conference, Gudkov said Wednesday evening.
7.
China-Russia Airplane Venture Planned
United Aircraft Corporation and Chinese Commercial Aircraft Corporation plan to start a joint venture to develop long-haul aircraft.
8.
Fridman Wants Big Change at TNK-BP
TNK-BP co-owner Mikhail Fridman said BP's Soviet-born partners are urging the British company to return to talks about changing the proportion of the 50-50 partnership.
9.
Russian Railways in Smoking Crackdown, Privatization Freeze
Smokers will find train journeys longer and a tad more frustrating as traditional indulgence of the habit is phased out on Russian Railways' passenger routes.
10.
Police Arrest Young Men for Murder of Japanese Motorcyclist
Investigators say two men aged 20 and 21 stabbed a Japanese motorcyclist to death in order to steal his belongings.
1.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
2.
McFaul Faces Kremlin Scorn Once Again
The Foreign Ministry assailed U.S. Ambassador Michael McFaul for comments the ministry said went "far beyond the bounds of diplomatic etiquette."
3.
Sweden Wins Eurovision; Grannies Take Second
Sweden’s Loreen won the Eurovision Song Contest in Azerbaijan on Sunday before an international TV audience of 100 million, days after angering Azeri authorities by meeting rights activists critical of the host country’s human rights record.
4.
Ukraine in Uproar Over Status of Russian Language
Ukraine's ruling party has triggered violent protests with a move to upgrade the official role of Russian, a sensitive issue opponents say will split the country.
5.
150 Detained at Anti-Kremlin Rallies
About 150 people were detained Sunday as scores of people gathered for a series of anti-government demonstrations in Moscow and St. Petersburg.
6.
Vkontakte Founder Tosses 5,000-Ruble Notes Out Window
<p>The founder of the social networking site Vkontakte celebrated St. Petersburg’s 309th anniversary over the weekend by tossing paper airplanes carrying 5,000-ruble notes out a building window.</p>
7.
U.S.-Russian 3-Year Multientry Visa Bill to Go to Duma
After months of delays, the government has finalized a much-touted visa agreement with the United States and drafted the corresponding bill.
8.
Kennan's Insight Into the Russian Soul
George Kennan is best known as the author of the containment policy, which served as the overarching principle informing U.S. foreign policy during the Cold War.
9.
TNK-BP Head Quits as Shareholder Crisis Flares
Billionaire Mikhail Fridman resigned Monday as chief executive of TNK-BP, plunging the country's No. 3 oil firm deeper into crisis and challenging co-owner BP's grip on the business.
10.
McFaul and State Department Respond to Attack
The U.S. ambassador and the U.S. State Department said they were surprised by blistering criticism from the Foreign Ministry regarding comments McFaul made to students last week.
1.
Hundreds of Arrests Set Grim Backdrop for Victory Day Celebrations
As Moscow gears up to celebrate its victory in World War II, 67 years ago Wednesday, the shadow of political conflict shrouds the capital as hundreds of arrests cloud Victory Day festivities.
2.
Russian Satellite Takes Highest-Ever Resolution Picture of Earth
A stunning 121-megapixel snapshot of the Earth was taken by a Russian weather satellite in what is thought to be the highest resolution picture of the planet ever taken from space.
3.
City Mistakenly Plants Marijuana Field Instead of Lawn
After the city spread soil containing "grass" seeds around the Brateyevo metro station, a field of marijuana plants sprouted up instead of a lawn.
4.
Bodies, No Survivors Spotted at Superjet Crash
Search and rescue helicopters and volunteers struggling through thick forest and mountainous terrain spotted bodies but no survivors on the Indonesian mountainside where a Sukhoi Superjet 100 crashed by the time darkness forced an end to the search Thursday night.
5.
Tabloid: Superjet Downed by U.S. Industrial Sabotage
A tabloid claims that Russian intelligence agencies are investigating the possibility that the U.S. military may have brought down the Sukhoi Superjet that crashed in Indonesia.
6.
Mysterious Photos Reveal an Unseen WWII
After the end of World War II, Paul Sadler returned home to Chicago with three German books and a photo album from the Dachau concentration camp.
7.
Furniture Magnate Shot Dead in Mercedes in Moscow Region
A 46-year-old furniture magnate was killed with six gunshot wounds to the head and chest early Sunday as he arrived in his Mercedes at his home in the Moscow region.
8.
New Cabinet Has Familiar Cast of Characters
President Vladimir Putin on Monday announced the makeup of the new Cabinet answering to Putin and Prime Minister Dmitry Medvedev, with three-fourths of the members having been replaced.
9.
Vladivostok Bridge Climbers Fined 300 Rubles Each
Three thrill-seekers who climbed two Vladivostok bridges earlier this week and took photos from the top were fined 300 rubles ($10) each for trespassing.
10.
Superjet Missing in Indonesia With 50 on Board
A dark cloud was cast Wednesday on the revival of Russia’s aviation industry when a Sukhoi-built Superjet 100 with 50 people on board disappeared from the radar screens of Indonesian flight controllers.
