Tiendas Industriales Asociadas Tía S.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
USD $ 10,000,000
Project scope and objective
The transaction consists in an uncommitted revolving reverse factoring credit line (the “Transaction) to be granted by IDB Invest to Tiendas Industriales Asociadas TÍA S.A. in Ecuador (“Tiendas TÍA” or the “Company”). At its sole discretion, IDB Invest will be entitled to: purchase and discount the credit rights held by suppliers payable by Tiendas TÍA previously confirmed by the latter through an eligible electronic platform.
The Company was organized in Guayaquil, Ecuador, in 1959. Since then it has expanded countrywide and currently owns 242 stores (158 in the Costa, 73 in the Sierra and 11 in the Amazonía regions) with a headcount of over 8,000. The Company’s main activity is the wholesale and retail sale of food, clothing and products in general through its stores under the commercial brand “Tía” focused on serving the customers at the base of the pyramid.
Through the Transaction, IDB Invest seeks to enable financing under competitive conditions for Tiendas TÍA’s suppliers, which are mostly MSMEs, in Ecuador by discounting or monetizing their credit rights arising from the sale of goods and/or services to Tiendas TÍA.
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+593 4 2598830
IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005