85%
of the Jordan Valley’s inhabitants earn their living from agriculture
$10 M
loaned by Proparco to Nakheel Palestine
350
jobs directly created thanks to Proparco financing
In the area around Jericho on the West Bank of the Jordan, the climate and soil make for excellent farming. Nakheel Palestine has been growing date palms there since 2010. As the leading Palestinian producer of Medjool dates, the company plays a key role in the local labor market.

Palestine’s private sector has a hard time maintaining the economic growth momentum needed to create jobs, particularly in agribusiness. That difficulty can be attributed to both geopolitics in the region and Palestine’s inadequate infrastructure and public services. But even so, some companies have managed to turn the situation around.

Nakheel Palestine has demonstrated its competitive strength in just a few years’ time. The company has built itself into the number- one domestic producer of Medjool dates and exports 60% of its output. Through a combination of investment

Our goal has always been to be a market leader. We couldn’t have achieved that without Proparco.
 

Directeur général de NAkheel, Mustafa Hasan
Mustafa Hasan, General Manager, Nakheel Palestine
Palmiers dattiers Nakheel Palestine
Dattes Medjool de Nakheel Palestine
the number- one domestic producer of Medjool date
Nakheel Palestine has demonstrated its competitive strength in just a few years’ time.
The company has built itself into the number- one domestic producer of Medjool dates and exports 60% of its output.
Through a combination of investment and brisk business,

Nakheel Palestine has created jobs and bolstered Palestine’s highly vulnerable farming sector.

In the words of Jean-Baptiste Jouve, a Proparco Investment Officer: “Nakheel Palestine and its stakeholders have demonstrated their ability to develop a profitable company in a complex business environment. The upshot is that the sector has become more structured and that sustainable employment has been provided to local communities.”
Palmiers dattiers Nakheel Palestine
The company has received Global G.A.P. Certification,
Nakheel Palestine currently farms over 400 hectares of date palm groves using the most advanced irrigation techniques, which are vital to optimizing the use of water—an all-too-rare resource in Jericho.

Out of a commitment to environmental responsibility, Nakheel Palestine complies with the most stringent international standards throughout the production cycle, from planting to fruit packaging.

Moreover, the company has received Global G.A.P. Certification, an international standard that guarantees good agricultural practices, and has been recognized as compliant with the BRC Food and ISO 22000 food safety standards.
Dattes Medjool Palestine
Boosting Palestine’s private sector
The $10-mi l l ion loan extended by Proparco in 2017 enabled the company to buy a farm, purchase more effective equipment (for packaging and cold storage, for example) and achieve significant economies of scale. Nakheel Palestine can now harvest dates from 45,000 trees planted on several hundred hectares of land in Jericho.

The loan represents Proparco’s first project in support of the Palestinian private sector, making it the first development finance institution to assist Palestine’s agricultural sector.

“Proparco is a strategic partner that has helped our company step up its pace of growth,” states Mustafa Hasan, the company’s General Manager.

The resulting increase in exports will build brand recognition and make additional foreign currency available to the Palestinian economy.
38 % des 600 employés de Nakheel Palestine sont des femmes
Major social and economic impact
Major social and economic impact Whether directly or indirectly, Nakheel Palestine has created hundreds of jobs.
In addition to a permanent staff of 80, the company employs more than 500 seasonal workers—many of them women—in its factory and on its farms. Nakheel Palestine has also indirectly generated hundreds of jobs at businesses that distribute its products.
The financing provided by Proparco will make it possible to create nearly 350 additional farming jobs.

As Mr. Hasan also notes, “We contribute to income growth for Palestinian workers, which also enhances the well-being of their families.”
Dattes Medjool protégées
A powerful signal about the bankability of Palestine’s private sector
This project marks Proparco’s first collaboration with two key institutions in the Palestinian economy: Padico Holding and Massar International (via its private equity fund Siraj Palestine), which are leading shareholders in Nakheel Palestine.

This first investment by a major financial institution like Proparco sends a powerful positive signal to the market, about the potential and bankability of the Palestinian private sector, where long-term capital investment is still inadequate.
38 % des 600 employés de Nakheel Palestine sont des femmes