El Rosado Corporation Receives $25 Million Financing to Further Expand and Add 850 Jobs in Ecuador

IDB Invest granted financing of $25 million to Corporación El Rosado in Ecuador, one of the most important business groups in the country and one of the largest employers, indicates this multilateral organization that is part of the Inter-American Development Bank (IDB).

The funds will be used to finance the capital investment plan of the corporation that manages brands such as Mi Comisariato, Ferrisariato and RioStore, and which seeks to increase productivity and logistics efficiency, promote its geographical expansion and implement energy efficiency and clean energy projects that They will reduce the emission of CO2 into the atmosphere by 56,310 equivalent tons until 2025.

This project will support the creation of direct jobs with an expected increase of more than 850 people during the life of the loan, and will contribute to strengthening El Rosado’s value chain.

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IDB Invest also assures that it will accompany the group, which is based in Guayaquil, in strengthening its corporate governance and its environmental and social management system.

And this transaction is expected to contribute to four United Nations Sustainable Development Goals (SDGs): affordable and clean energy (SDG 7), decent work and economic growth (SDG 8), climate action (SDG 13) and partnerships to achieve the goals (SDG 17).

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IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. It finances sustainable companies and projects so that they achieve financial results and maximize economic, social and environmental development in the region. It has a portfolio of $13.1 billion in assets under management and 385 clients in 25 countries, providing innovative financial solutions and advisory services.

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The multilateral reviews El Rosado as a company with more than 66 years of experience and one of the most important business groups in Ecuador with participation at the national level through its different lines of business, which include the second largest supermarket chain in Ecuador. and businesses in the real estate, entertainment and restaurant sectors.

And it highlights that the company since its foundation has been part of the development of the private and national sector, currently being one of the largest employers in the country. (I)