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Santa Priscila goes after clean energy with a $45 million loan

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Having turned 45 and getting a loan of $45 million from one of the most prestigious international entities is not a simple coincidence, but something inevitable. This was commented on Thursday night by one of the attendees at the signing of the loan for $45 million between the company Santa Priscila and the International Finance Corporation (IFC).

In a private ceremony in a hotel located in the middle of Plaza Grande, the signature was given so that the company can increase its productivity and deepen the change that it had already been making. that of replacing the use of diesel for electricity in shrimp production.

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It was not a rigid ceremony but rather an entertaining conversation in which Santiago Salem talked about his family and took a tour of his memory: being a hydraulic engineer at just 26 years old, he accepted the challenge of building his own shrimp business. Along the way, international technicians did not support his idea of ​​locating in the Chanduy sector, in Santa Elena. But he stayed. Now Santa Priscila is the largest exporter in Ecuador and has become the first shrimp exporting company in the world. It is that Santa Priscila produces 20,000 tons per month in the three farms located in Chanduy, Churute and Taura.

The company is an example of how the aquaculture industry has progressed and matured. However, some obstacles have had to be overcome. One of them, the white spot. During that difficult time, he also had to use creativity, monitoring the pools with the highest level of mortality and rescuing the survivors. After three generations, they were free of the disease. For 20 years, the industry has had double-digit growth and in the last year it grew by more than 50%. Santa Priscilla did it at 62%.

Thus, the company ranked number 1 in the first half of 2022 as an exporter to the United States and as the first to China. For example, in the United States, Santa Priscila ranks first in the ranking with 62.3 million pounds in one year. The next company is Bahahi Makmur Sejati with 44.8 million and Devi Sea Food with 23.4 million.

Signing of the credit agreement for $45 million received by Santa Priscila, represented by its principal Santiago Salem, on behalf of the IFC, represented by Alfonso García, vice president of the international financial organization. Photo: Patricia Sandoval Photo: The Universe
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The funds obtained from IFC will be invested in farms that are adapted to replicate the certification standards of the Aquaculture Stewardship Council (ASC) or Best Aquaculture Practices (BAP), promoting good practices with sustainability benefits. About 42% of the financing will contribute to climate mitigation, avoiding emissions of approximately 2,000 tons of CO2 equivalent per year. “What we seek is to continue with the substitution of fossil fuels for clean energy. The change is for hydraulic or solar electric power, or both,” Salem explained.

Alfonso García Mora, Vice President of Europe, Latin America and the Caribbean of IFC, for his part, assured that “addressing climate change and supporting long-term growth is a key priority for IFC in Latin America and the Caribbean.” The delivery of the credit to Santa Priscila fits in with the principles of the entity. “This will promote competition and productivity growth in this important export-oriented sector, catalyzing the greening of the shrimp sector to weather future shocks,” he said.

He explained that the credits benefit companies that are willing to meet sustainability criteria and care for the environment and in the case of Santa Priscila it is a company that clearly meets these parameters. In Ecuador right now there is a portfolio of $410 million of loans delivered and only this year $158 million have been placed. For the IFC it is important to support initiatives that have to do with social inclusion, productivity, environmental sustainability. She indicated that, for example, in recent months credit has been given to banks with gender bonds with the commitment to provide loans to women entrepreneurs. Or credits based on blue bonds, to generate credits to companies that focus on aquaculture issues, improvement of sanitation. A loan was also given to a hospital, among others.

Salem said that when someone receives a loan, it is with joy and relief; but that in this case it receives it with an enormous commitment and responsibility to pay everything that has been borrowed, but also with the slogan of using the money well with principles of sustainability, environmental care and socially contributing to less poverty. . (YO)

Source: Eluniverso

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