U.S. fund invests in PH sustainable fishery
A technician at JAM Seafoods in the Philippines. WEBSITE
A U.S.-based impact investment fund has invested in a seafood-processing company promoting sustainable fisheries in the Philippines.
The Meloy Fund said its investment of undisclosed value in JAM Seafoods is meant to stimulate JAM’s expansion, better post-harvest handling of fish through the construction of ice plants in major sourcing locations, and provide pre-financing for fishing trips.
It is the first time that part of the fund’s investment is specifically earmarked for pre-financing small-scale fishermen’s harvests.
“This upfront financing reduces the risk of potential debt of fishers, improves quality and incomes, and secures stable supply,” Meloy Fund Manager of ESG and Impact Veronica Yow said in a press statement.
The Meloy Fund was founded in 2016 to conduct impact investment supporting sustainable coastal fisheries in Indonesia and the Philippines.
