Company name
CORPORACION FAVORITA CA
Project number
15947-01
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.
E&S category
B
Country
Panama
Sector
Manufacturing
Status
Approved
Disclosed date
12/17/2025
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/03/2026
Approval date
02/03/2026
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
USD $ 15,000,000
Financing amount
USD $ 33,000,000
Currency
USD
Project scope and objective
Corporación Favorita is a leading retail conglomerate in Ecuador and the country’s largest supermarket operator, with a diversified portfolio that includes supermarket formats, wholesale operations, and e-commerce. It operates in Panama through its subsidiary Rey Holding Corp, as well as in other Latin American countries.
The proposed financing includes a package of up to US$58 million, with a tenor of up to 5 years, structured to support strategic growth and sustainability initiatives focused on the Group’s operations in Panama. It comprises: (i) a committed secured senior loan of up to US$30 million, provided by IDB Invest and mobilization resources, primarily intended to finance the expansion of the Distribution Center in Panama and, to a lesser extent, the refinancing of medium-term debt to extend maturities; (ii) a secured senior loan of up to US$3 million with concessional resources, aimed at implementing a pilot battery energy storage system (BESS) project in Panama, potentially the first at industrial scale; and (iii) an uncommitted secured senior loan of up to US$25 million, which may be used to finance future growth and investment needs in Panama or Ecuador.
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Contact information
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Client Contact
PHONE NUMBER
+593-299650
POST OFFICE ADDRESS
Av. General Enríquez vía Cotogchoa, Quito, Ecuador
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For information requests about the project.
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
CORPORACION FAVORITA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
297.0 Kb
CORPORACION FAVORITA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
194.6 Kb