Durán, Ecuador, January 7, 2016
— The International Finance Corporation (IFC), the private sector arm
of the World Bank Group, provided a loan of US$10 million to Operadora
y Procesadora de Productos Marinos Omarsa S.A., one of the biggest shrimp
export businesses in Ecuador, to assist it with its expansion plans.
“IFC has confidence on Omarsa because
the company has a philosophy of sustainable productioon,” 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 Ecuadoreans
Omarsa is the first shrimp producer
in the world to receive Aquaculture Stewardship Council (ASC) certification.
In addition, Omarsa is implementing the good practices of the Aquaculture
Certification Council (ACC) in its laboratories, on its farms, and in its
processing plant. These were factors that helped prompt IFC to invest in
this industry, after a long absence in this sector.
Carlos Leiria Pinto, IFC Head of the
Andean Region, stated that “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 the business will
strengthen the export sector in Ecuador, as shrimp exports represent the
second biggest export category in the country after oil and derivatives,
along with bananas. In 2014, the shrimp sector accounted for 10 percent
of Ecuador’s total exports and 37 percent of the country’s non-oil exports.
Omarsa will promote the sustainable growth of this industry.
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 US$540 million in the county.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
IFC uses its capital, expertise, and influence to create opportunity where
it is needed most. In FY15, its long-term investments in developing countries
totaled close to US$18 billion, allowing the private sector to play a key
role in global efforts to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org.