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Durán, Ecuador, December 21st, 2023—In order to create jobs and boost the Ecuadorian economy, IFC is providing a loan of up to $20 million to Omarsa S.A., a leading shrimp producer, processor, and exporter in the country. The goal is to promote a sustainable and competitive export-oriented shrimp sector in Ecuador, key to the nation's growth path.
IFC's funding will allow Omarsa to develop a new 536-hectare shrimp farm in Guayas, a coastal province in Ecuador. The farms—certified by the Aquaculture Stewardship Council—will be equipped with technologies to minimize feed loss and waste in supply chains, increasing the availability of food.
Sandro Coglitore, General Manager of Omarsa, stated: "IFC's tailor-made and long-term financing will enable Omarsa to address the current market gap. A key element of our international competitiveness is our focus on quality and environmental sustainability. Accordingly, as a leading integrated shrimp producer and processor in Ecuador, IFC's support will help us improve our supply chain efficiency while optimizing resource efficiency within the sector."
Manuel Reyes-Retana, IFC Regional Director for Latin America and the Caribbean, said: "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."
As the world's top shrimp exporter, it is a strategic sector for Ecuador—the largest non-oil-related revenue source for the country. About OMARSASince 1977 OMARSA has been dedicated to farming, processing and export of sustainable shrimp. Based on a strict policy of quality control and principles of environmental preservation, OMARSA has achieved high standards that guarantee a top-quality shrimp, ensuring long-term sustainability. Their dedication to providing the best sustainable products in more than 45 years has positioned them among the top 2 exporters of shrimp in Ecuador with a broad diversification of markets successfully processing shrimp as head-on, head-less and value-added. For more information contact their sales team at sales@omarsa.com.ec.
About IFCIFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org. Stay Connected with IFC on social media.
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