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January 9, 2016

Ecuador

Omarsa Gets $10 Million to Expand

 

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has provided a $10 million loan to Operadora y Procesadora de Productos Marinos Omarsa S.A., one of the biggest shrimp farming and exporting operations in Ecuador, to assist it with its expansion plans.

 

“IFC has confidence in Omarsa because the company has a philosophy of sustainable production,” stated Sandro Coglitore, the General Manager of Omarsa, adding that “IFC’s investment in Omarsa will allow us to continue our expansion plans and will add to the economic growth of the country, creating 400 new jobs for Ecuadorians in 2016.”

 

Omarsa was the first shrimp farm in the world to receive Aquaculture Stewardship Council (ASC) certification.  In addition, Omarsa is implementing the Best Aquaculture Practices (BAP) of the Global Aquaculture Alliance (GAA) in its hatcheries, on its farms and in its processing plant.  These certifications convinced IFC to invest in shrimp farming, after a long absence.

 

Carlos Leiria Pinto, IFC Head of the Andean Region, stated “this new project demonstrates the commitment of IFC to the sustainable development of Ecuador and seeks to encourage use of the global best practices in the environmental and social areas.”  Martin Spicer, IFC Regional Head of Industry for Manufacturing, Agribusiness, and Services in Latin America, underscored the fact that the long-term loan will “promote direct job creation in the country, particularly for women, and strengthen the relationship between Omarsa and local small and medium shrimp producers.”

 

IFC’s support for Omarsa will strengthen the export sector in Ecuador, as shrimp exports represent the second biggest export category in the country after oil and its derivatives.  In 2014, the shrimp sector accounted for 10 percent of Ecuador’s total exports and 37 percent of the country’s non-oil exports.

 

IFC’s strategy in Ecuador focuses on providing financing and technical assistance to companies that have a strong and positive impact on the export sector while at the same time trying to support projects that cover climate change, create jobs and benefit the most disadvantaged population groups.  IFC support for Ecuador started when the country joined the institution in 1956.  Since that time, IFC has invested roughly $540 million in the county.

 

Information: Sandro Coglitore, Omarsa, Lotización Industrial Al Rio Solar 3, Guayas–Durán, Ecuador (phone +593-4-371-3035, fax 593-4-255-0169, email sales@omarsa.com.ec, webpage http://www.omarsa.com.ec/index.php/en/).

 

Sources: 1. Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Ecuadorian Shrimp Producer Omarsa Gets $10 Million Loan to Expand Operations.  Michael Ramsingh (phone 1-732-240-5330, email michaelramsingh@seafood.com).  January 8, 2016.  2. Bob Rosenberry, Shrimp News International, January 9, 2016.

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