Project detail - THE MELOY FUND - I , GP LLC

THE MELOY FUND - I , GP LLC

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Who is our client

The Meloy Fund for Sustainable Community Fisheries (“Meloy”) is a pioneering impact investing vehicle developed to provide capital to enterprises that participate in the coastal fishing and aquaculture supply chains. Its focus is on investments in Indonesia and the Philippines. It is estimated that there is $4 billion in latent value to be unlocked, over 1 million local fishers to benefit and 21 million hectares of critical marine habitat to be revitalized through fisheries reform and investment in this region.

Funding objective

The objective is to help Meloy with supporting portfolio companies and other impacted SMEs in its pipeline to provide a safe working environment for employees and fish suppliers, as well as bridge the gap between slow-moving government aid and current need for subsistence and health and safety supplies. Since the outbreak of COVID-19, Meloy has responded by implementing a strategy that provides benefits to key stakeholders in this sector, including: (i) unlocking liquidity and ensuring safe operations for the portfolio and SMEs in the sector, reducing supply chain disruptions and ensuring business continuity; (ii) facilitating the continued employment of workers in portfolio companies; (iii) providing subsistence aid and continued purchases in support of the most vulnerable small-scale fishers in local communities.

Why we fund this project

The COVID-19 pandemic has disrupted global seafood supply chains and threatened the viability of SMEs in the sector, which provide the main source of livelihoods for many of the most vulnerable local community members in the developing areas. FMO’s emergency grant will be critical in these initiatives to unlock key value chain actors and to provide support to those in need during the transitional period as logistics and supply lines re-open over time.

Environmental and social rationale

NA

More investments

Date Total FMO financing
12/18/2018 EUR 0.22 MLN
Region
Asia
Country
Philippines
Sector
Agribusiness, Food & Water
Signing date
9/8/2020
Total FMO financing
EUR 0.07 MLN
Fund
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)