WASHINGTON, D.C. – A. U.S. small business will use political risk insurance from the Overseas Private Investment Corporation (OPIC) to provide advanced soil treatment technology to farmers in Pakistan, enabling economically depressed rural regions of that country to increase their crop yields.

OPIC will provide $1.1 million in insurance to Sweetwater International, Inc., of Salt Lake City, Utah, for the manufacture, sale and leasing of Sulfurous Acid Generator (SAG) machines throughout Pakistan. The SAG technology, patented by Sweetwater International, reduces salinity and sodicity in soil, resulting in improved arability and increased agricultural yields. Sweetwater International estimates that the project will increase farmers’ annual crop yields by more than 30 percent, and will therefore help Pakistan reduce poverty on a local basis. 

Moreover, the company has established a research and training institute to train farmers in irrigation management and conduct further research into SAG technology. It is estimated that 185 permanent employees will be hired in the first five years of the project.  

“This project is empowering on a number of levels,” said OPIC President and CEO Dr. Peter Watson. “It delivers important economic and subsistence benefits directly to Pakistani farmers and their customers; improves efficiency in the farming industry; and results in an important transfer of technology to Pakistani farmers. OPIC is pleased to work with a U.S. small business to bring these benefits to Pakistan, a valued partner for the United States in the international war against terrorism.” 

Sweetwater Pakistan, (Pvt.) LTD, the company’s local subsidiary, will make the machines available to Pakistani farmers through sale and leasing to non-governmental organizations and government agencies, and by selling them directly to distributors and end users. The project will begin in Punjab province, where soil is particularly affected by high saline and saline/sodic content.  

OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.

OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency’s 32-year history, OPIC has supported $150 billion worth of investments that have helped developing countries to generate over 690,000 host-country jobs. OPIC projects have also generated $66 billion in U.S. exports and created more than 257,000 American jobs. 

http://www.opic.gov/