OPIC-supported Siraj Investment Fund recognized for excellence
The Siraj Fund Management Company recently received EMEA Finance Magazine’s award for “Best Asset Manager in Palestine” for the year 2013. The Siraj Palestine Fund I, a $90 million fund based in Ramallah, is supported in part by a $30 million commitment from OPIC.
The fund was established in 2011 for the purpose of investing in small and medium-sized West Bank businesses in a wide variety of sectors, including agribusiness, logistics, consumer goods and services, and energy services. According to Siraj’s mission statement, these investments “are intended to unleash the potential of these Palestinian businesses while promoting technological advancements and development in the country, spurring economic growth, job creation and innovation in Palestine.”
OPIC’s work as the U.S. Government’s development finance institution includes support for the creation of private investment funds in emerging markets. These funds help emerging economies access long-term growth capital, management skills, and financial expertise, all of which are key factors in expanding economic development and creating new opportunities for people in low-income and developing nations.
OPIC is proud to be associated with Siraj and its management team in their efforts to build a solid foundation for talented West Bank entrepreneurs.