Ecuador’s Omarsa secures $20m loan to fuel 536-hectare shrimp farm plan
(Note: this is an abridged version of the original article. The full article is available at Undercurrent News)
By María Feijóo
The International Finance Corporation (IFC), a key entity within the World Bank Group, has approved a loan of up to $20 million for Omarsa, Ecuador's second-largest shrimp processor.
This financial backing will enable Omarsa to develop a new 536-hectare (1,324-acre) shrimp farming facility in Ecuador's Guayas coastal province. The farms, certified by the Aquaculture Stewardship Council, will be equipped with technology aimed at minimizing loss and waste in supply chains, thereby increasing food availability.
The company shared this development with Undercurrent News on the sidelines of the 2023 Global Shrimp Forum, unveiling its ambitious expansion plans to incorporate an additional 500-600 hectares of farms in Ecuador.
Discussions are underway for the potential addition of 500 hectares in Panama.
In 2023, the company added 500ha in the country, taking its production area to around 5,000ha. The company already operates 2,000ha of farms in Panama, so when the deal comes off, this will go to 2,500ha.