• South Asia
Geographic location where the impacts of the investment may be experienced.
  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Nov 6, 2022

Disclosed by Bank Oct 6, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to FMO, the funds for the proposed project will be used for capex investments that will further strengthen TSF's value chain. The investments include rehabilitating abandoned shrimp farms owned by TSF and by third-party growers, investing in new farms, circular tanks and hatcheries, in a new processing facility and for other general capex investments. The DFCD funds will be used to finance part of the core portion of the working capital needs.

With this project, TSF promotes sustainable aquaculture by rehabilitating abandoned shrimp farms and converting them into new ponds and circular tank farms. Because TSF (/Sri Lanka) is a relatively new player in a matured industry, it has the advantage to leapfrog with the latest technology and best aquaculture practices in the sector, supported by international partners in the industry. For FMO, the integrated 'farm to fork' business model is the main reason to partner with TSF. The proposed transaction fits the AFW strategy because (i) it focusses on the whole supply chain from early production at hatcheries to frozen and packed end-products for consumers thereby applying modern production, processing and logistics techniques, (ii) it actively empowers and engages with women in management positions in its operations, (iii) it helps reducing inequality through its partnership with smallholder farmers (land holdings < 1ha) (iv) TSF is known to encourage actively women to start working and making a living wage, and to participate women as farmers or otherwise throughout its supply chain (v) TSF's farming operations are strictly based Best Aquaculture Practice (BAP) standards, and other important industry standards and certifications and open to work towards Aquaculture Stewardship Counsel (ASC) certification.


E&S risks are categorized as Category B+. mainly due to biodiversity and living natural resources - animal welfare and biosecurity. FMO's environmental and social due diligence indicates that the investment will have impacts which must be managed in a manner consistent with the following Performance Standards: PS 1 - Assessment and Management of Environmental and Social Risks and Impacts PS 2 - Labor and working conditions PS 3 - Resource Efficiency and Pollution Prevention PS 4 - Community Health, Safety and Security PS 6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Taprobane Seafoods Ltd. (TSF or the company) is a leading seafood export company in Sri Lanka processing Blue Swimming Crab into pasteurized crab meat and Vannamei shrimp, which it began farming two years ago - the first Sri Lankan company to do so - in response to a global shift in preference to Vannamei from black tiger shrimp. Established in 2010, TSF has one main process facility and fourteen mini-processing facilities, employing over 2,000 fulltime employees, predominantly underprivileged women including war widows, throughout the northern and northwestern provinces of Sri Lanka. The shrimps processed by TSF are supplied by its own farms and third-party growers. The crabs are wild-caught and supplied by local fishermen. TSF exports seafood products globally under their own brand or for third parties.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Taprobane Seafoods Ltd. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contact information provided at the time of disclosure.


As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl


Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works