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Credit Line Opened for Ecuador's Marine Aquaculture

Economics Politics +2 more

ECUADOR - The Ministry of Agriculture, Livestock, Aquaculture and Fisheries (MAGAP) and the National Finance Corporation (CFN) are to open a direct credit line to boost marine aquaculture.

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MAGAP Minister, Javier Ponce, highlighted the work that was done with the NFL to open this credit line, which will strengthen the sector.

Deputy Minister of Aquaculture and Fisheries, Guillermo Moran, explained the fundamentals to boost mariculture, which included: creation of a production system to strengthen existing seafood processing chains; granting of concessions in an orderly, responsible and short time; generate a frame of competitiveness; and optimize research centers, science and technology.

Samir Kuri, Oceanfarm Legal representative, a pioneer in this activity, said that mariculture will create new jobs and other results will be obtained, such as, productivity benefit, increase exports, generate more value added fish production Ecuador.

Sea cucumber, snapper, mullet, lobster, huayaipe, catfish sea are among the potential species for mariculture in Ecuador.