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
B
Country
Ecuador
Sector
Manufacturing
Status
In implementation
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
10/20/2022
Approval date
10/20/2022
Signed date
01/12/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
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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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
marcelo.garcia@tia.com.ec
PHONE NUMBER
+593 4 2598830
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and 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.
TIA TRADE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
1013.8 Kb
TIA TRADE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
337.9 Kb