South Asia Foods LLC-FZ
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
South Asia Foods LLC ("SAF") is a special purpose vehicle (SPV) created to manage the sales for Taprobane Seafoods Pvt Ltd ("Taprobane"). FMO invested in SAF in 2023. The beneficiary of this emergency grant is Taprobane, a leading Sri Lankan seafood company founded in 2010, operating 15 processing facilities with around 2,000 employees. It is one of the countryʼs largest exporters of raw, processed, and value-added seafood, recognized for its commitment to sustainability and social responsibility. Local community blue crab fishers in Taprobane's supply chain will be the ultimate beneficiary from this development contribution.
What is our funding objective?
The funding aims to restore critical assets in Taprobane's supply chain that were damaged by Cyclone Ditwah's extreme weather event, particularly affecting crab operations. The objective is to repair and replace fishing nets, gear, boats, and infrastructure, enabling rapid recovery of production capacity, stabilizing raw material supply, and safeguarding the livelihoods of fishermen and supply chain partners.
Why do we fund this investment?
FMO's Building Prospects and DFCD Land Use Facility funds invested in SAF, and indirectly in Taprobane. This project will strengthen SAF and Taprobane and help the company to recover more quickly from the devastating effects of Cyclone Ditwah, while also supporting them to maintain informal license to operate in communities which were significantly affected by the extreme weather events. In support of SDG10, this project helps to maintain economic inclusion for the small fishers in Taprobane's supply chain who would otherwise have a more prolonged and uncertain return to income from blue crab fishing.
More investments
| Date | Total FMO financing |
|---|---|
| 3/22/2023 | USD 5.00 MLN |
| 3/22/2023 | USD 10.00 MLN |
- Region
- Asia
- Country
- Sri Lanka
- Sector
- Agribusiness, Food & Forestry
- Publication date
- 2/26/2026
- Effective date
- 2/9/2026
- Total FMO financing
- USD 0.15 MLN
- Funding
- Building Prospects
-
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) - B+