DFC Embraces Equity Financing with Royal Mayan Shrimp Farm

On Wednesday, The Development Finance Corporation (DFC) held a ceremony in Belmopan to celebrate the signing of the Letter of Loan Offer with Royal Mayan Shrimp Farm Ltd. At the event, Raineldo Guerrero, chairman of the DFC, said “We’re celebrating because for the first time, the Development Finance Corporation has taken on equity financing as a major part of his portfolio. But what’s important is the significance of the steps that we have taken, both in the case of Royal Mayan Shrimp Farm and the development finance, that it wasn’t a simple process, it was a journey.”

Managing Director of Royal Mayan Shrimp Farm Ltd., Alvin Henderson said, “we’re very grateful for DFC’s partnership in this. I mean, we’re in a developing country. We’re not in a place where one accesses easily R&D. So many times the Research and Development is actually done with borrowed funds, and this is what makes it quite challenging. But in the case of DFC, they stood by us as we ran these important trials over the last two years in the field and that became very critical because the trials we have in the field, which is the basis of the investment that’s being made now, have been stellar.”

This partnership “comes out of the DFC’s new investment policy that we adopted or the board adopted as part of moving towards Green Climate accreditation. Green Climate Fund accreditation,” said General Manager of DFC, Henry Anderson.