The Asian Development Bank (ADB) and Thai Union Group have signed a $150 million blue financing agreement to promote sustainable shrimp production in Thailand.
The financing package comprises $50 million from ADB’s ordinary capital resources and a $100 million syndicated B Loan from banks including Bank of China (Hong Kong), HSBC, MUFG Bank, OCBC, Sumitomo Mitsui Banking Corporation, and United Overseas Bank.
Blue finance supports the sustainable use of oceans and water resources. The funds will help Thai Union procure, process, and export certified sustainable shrimp, and support training, certification assistance, and sustainability projects for shrimp farmers.
The agreement is supported by a technical assistance grant to enhance farmers’ resilience to climate risks and improve financial literacy. Shrimp certified under the Aquaculture Stewardship Council or Best Aquaculture Practices will be prioritized.
“Aquaculture supplies over half of the world’s seafood but faces growing environmental pressures,” said ADB’s Thailand Country Director Anouj Mehta. “This is ADB’s first private sector agribusiness loan in Thailand and aims to strengthen sustainability in the shrimp supply chain.”
Thai Union Group CEO Thiraphong Chansiri called the partnership an “important milestone” aligned with the company’s expanded SeaChange sustainability strategy.
Founded in 1977, Thai Union is a leading global seafood company with over 44,000 employees. ADB, founded in 1966, is a major multilateral development institution with 69 member countries.
Business News Asia