The Development Bank of Latin America and the Caribbean (CAF) and the Ecuadorian government have signed a credit lines deal worth $200 million (€188 million) that will fund the connection of 55,000 hectares of land used by the Ecuadorian shrimp industry to the electricity grid.

Production sites in the Esmeraldas, Manabi, Guayas, El Oro and Santa Elena regions of the South American nation are expected to benefit.

The development comes as a timely boost for the industry, which is struggling with low prices, the removal of a diesel subsidy late last year and spiralling feed and security costs to combat the threat of organized crime.