Durán, Ecuador: The International Finance Corporation (IFC) is extending a loan of up to $20 million to Omarsa S.A., a prominent shrimp producer, processor, and exporter in Ecuador, with the aim of generating employment opportunities and stimulating the nation’s economy. The funding is designed to support the development of a new 536-hectare shrimp farm in Guayas, a coastal province in Ecuador, contributing to the growth of a sustainable and competitive export-oriented shrimp sector.
The Aquaculture Stewardship Council-certified shrimp farms will be equipped with advanced technologies to minimize feed loss and waste in supply chains, ultimately increasing the availability of food. This initiative aligns with Ecuador’s strategic focus on the shrimp sector, which stands as the country’s largest non-oil-related revenue source and holds a pivotal position as the world’s leading shrimp exporter.
Sandro Coglitore, General Manager of Omarsa, emphasized the importance of IFC’s tailor-made and long-term financing in addressing market gaps. The funding will enable Omarsa to enhance its international competitiveness by emphasizing quality and environmental sustainability, fostering supply chain efficiency and optimizing resource utilization within the sector.
Manuel Reyes-Retana, IFC Regional Director for Latin America and the Caribbean, highlighted the broader impact of the investment, stating, “Through this investment, IFC hopes to increase Ecuador’s capacity to produce and export shrimp, contributing to job creation and economic growth. IFC will also support Omarsa to improve its environmental and social practices in line with IFC’s Performance Standards and global best practices.” This strategic investment reflects a commitment to advancing sustainable practices in Ecuador’s vital shrimp industry.
