Financial innovations for fisheries and aquaculture


Financial innovations for fisheries and aquaculture

Under the Amazon Fish for Food Project, CIDRE IDF tests new financial products to support the fishing and aquaculture sectors.
To address the challenge of scaling up production of fish from the fisheries and aquaculture sectors, CIDRE IFD identified the need to innovate and develop new financial services. The organization has assumed the risk and challenge of testing their design and now offer the following products:

These products are pilot tests to assess the potential to carry out these services in a sustainable manner. For each of these innovations, the company has developed manuals, procedures and contracts. These have been placed for consideration for approval by government bodies. Staff has been trained to implement operations at the pilot level, and measures will be taken for monitoring and tracking the impacts of these new products. Progress already seen in these pilot tests indicates that these innovations will serve as the “best solutions” for the problems encountered in scaling fisheries and aquaculture through financial services. It should be noted that to implement new financial services nationwide, CIDRE must comply with the rules and regulations of the regulatory body. For this, the pilot tests made possible by the AMAZON FISH FOR FOOD allow the preparation for scaling up, to a more massive offering within the various economic sectors. Also as part of the CIDRE development, the organization needs to convert into a chartered bank. The Canadian Executive Overseas Service (CESO) is providing advisory services for this process, a spin-off from the Canadian technical exchange arranged early in the Amazon Fish for Food project by WFT.

Contact: Julio Alem, CIDRE, jalem@cidre.org.bo

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