Corporación Favorita, C.A.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Olazo Baracco, Ericka
USD $ 85,500,000
USD $ 230,000,000
Project scope and objective
The transaction consists of guaranteed, long-term core financing for Corporación Favorita, C.A. (“CF”, “the Company” or “the Client”). To date, CF is the largest self-services chain in Ecuador, the largest private company in terms of income, and the second largest employer in the country. This Company is also in the process of becoming a MultiLatina, as it has invested in businesses in Chile, Colombia, Paraguay, Peru, and Costa Rica and holds a controlling interest in Panama’s Supermercados Rey since early 2019.
IDB Invest's resources will allow the Company to execute its Capex 2018-2022 plan, allowing it to use its own resources to strengthen its business in Panama and continue its international expansion.
 Source: Vistazo Magazine No. 1250 September 2019, “500 Mayores Empresas del Ecuador” Special.
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