Arrecifes De Kino Sc De Rl De Cv
Arrecifes De Kino Sc De Rl De Cv’s story
Eva (in the picture) leads Arrecifes de Kino, a cooperative engaged in sustainable pen shell fishing. Pen shells live buried in sandy bottoms of the Gulf of California and are harvested by divers for their abductor muscles or scallops known as “callo de hacha”.
Last year in October, Eva recieved a Kiva-funded loan that capitalized Arrecifes de Kino for working capital during the high season. Part of this loan was used to pay native Seri fishermen for the scallops they harvested. The loan helped increase Arrecifes de Kino’s revenues. It also contributed to the conservation of the Canal de Infiernillo, and thus set an example for other groups that sustainable fishing can also be profitable.
This time, Arrecifes de Kino is asking for a 90,000 MXN loan to continue with the scallop harvesting. The new credit will also help Arrecifes de Kino to diversify its products, since they will start crab fishing. This diversification will help Arrecifes de Kino to increase their revenues and improve the quality of life for it’s members.
COBI (cobi.org.mx), a non-profit organization dedicated to promoting the conservation of marine biodiversity in coastal communities of Mexico, has trained Arrecifes de Kino to engage in responsible and sustainable fishing. So, the activities that will evolve from this loan will not affect the environment.
This loan is special because:
More about this loan
About El Buen Socio:
El Buen Socio is an ethical microfinance institution in Mexico that promotes sustainable development by strengthening people’s capabilities and supporting entrepreneurs with eco-friendly businesses.
Vulnerable, low-income entrepreneurs will use loans issued by EBS to fund productive projects that have a positive social and environmental impact, including farming, forestry or fishing activities. Each of these projects are conducted in an eco-friendly way with sustainable use of natural resources.