Company name

Tiendas Industriales Asociadas Tía S.A

Project number

12789-02

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
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B

Country

Ecuador

Sector

Manufacturing

Status

Approved

Disclosed date

05/31/2022

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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10/20/2022

Approval date

10/20/2022

Signed date

N/A

Sponsoring entity

N/A

Team leader

Parodi, Juan

Investment type

Syndicated amount

N/A

Financing amount

USD $ 10,000,000

Currency

USD

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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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.

TIA TRADE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

1013.8 Kb

TIA TRADE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

337.9 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Marcelo García

POSITION

CFO

PHONE NUMBER

+593 4 2598830

EMAIL

marcelo.garcia@tia.com.ec

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

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