Company name
Industrial Pesquera Santa Priscila S.A.
Project number
EC3867A-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Ecuador
Sector
Agribusiness
Status
Completed
Disclosed date
07/07/2011
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/23/2011
Approval date
11/29/2011
Signed date
12/09/2011
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 6,000,000
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
Industrial Pesquera Santa Priscila S.A. (IPSP) is an integrated shrimp and tilapia producer with breeding, hatchery, and nursery facilities, several grow-out stages and areas, and processing and packaging plants for exporting to Europe, the United States, and China and other Asian nations. IPSP’s shrimp farms are extensive, low-density operations with ten to twenty shrimp per square meter that use a tilapia polyculture (tilapia-shrimp) system. With more than twenty years of experience in the industry, IPSP is one of Latin America’s largest producers of shrimp and tilapa and Ecuador’s third largest exporter.
IPSP has successfully weathered several economic cycles in the industry, including challenges and problems in disease management, yields, and price volatility. IPSP has developed genetic selection programs yielding breeders and progeny that are tolerant to most known aquaculture pathogens. For its shrimp and tilapia harvests it has also developed a traceability system for each unit produced and exported from each pond, using technology, computers, and staff trained in biology and production processes. IPSP has HACCP certification from Ecuador’s fisheries authority, the Instituto Nacional de Pesca (INP), as well as quality certification under the Whole Foods Market Seafood Quality Standards. IPSP is a significant contributor to Ecuador’s social security agency, the Instituto Ecuatoriano de Seguridad Social.
The objective of this IIC operation is to enable IPSP to finance a portion of its 2011 fixed asset investments, primarily for upgrading its processing plants and making them more efficient, as well as investments in infrastructure, equipment, and materials for its production farms, and investments related to the environmental management plan.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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