A partial loan guarantee from the Walton Family Foundation is enabling Banco de Crédito del Perú to extend additional credit to Perupez, a Peruvian fishing operator improving the sustainability of fisheries off Peru’s northern coast.
The credit will help Perupez obtain certification from the Marine Stewardship Council, the global standard for sustainable fisheries. To qualify, Perupez must conduct scientific surveys of local fish populations, monitor catches and implement stronger fishery management systems.
“Improving fishery management often requires investments in science, monitoring and stronger systems – and that takes capital,” said Renu Mittal of the Walton Family Foundation.
The guarantee, structured by Swiss impact advisory firm Clarmondial and the Marine Stewardship Council’s Ocean Stewardship Fund, covers part of any loss if Perupez defaults, allowing Banco de Crédito to lend beyond its usual threshold.
Financing fish
Since 2020, the Marine Stewardship Council’s fund has deployed nearly $9 million in 200 projects, supporting small-scale fisheries in emerging markets and funding research on the impacts of climate change on fish populations. The fund aims to raise €100 million ($115 million) million by 2032.
MAVA Foundation backed the fund with $850,000 for fishery improvement projects in West Africa. Other funders the Adessium Foundation, the AG Leventis Foundation and the Remmer Foundation. The fund’s core backer is the Dutch Postcode Lottery.
