28587 - Mi Tienda

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Summary of Proposed Investment

Project Number

28587

Company Name

Sistema Integral de Abastos Rural, S.A. de C.V.

Date SPI Disclosed

Oct 28, 2009

Country

Mexico

Industry

Tourism, Retail and Property

Projected Board Date

Nov 30, 2009

Status

Completed

Sector

Retail (Including Supermarkets, Grocery Stores, etc.)

Department

Regional Industry MAS LAC & EUR

Environmental Category

B - Limited

Previous Events

Approved : Jan 14, 2010
Signed : Jan 19, 2010
Invested : Mar 24, 2011

Project Description

MiTienda (“the Company” or “MiTienda”) is a privately-held company engaged in the rural distribution of food and other basic products in Mexico. The Company was founded in 1999 and started operations in Atlacomulco (Central Mexico) as a single pilot cell (a distribution center). It offers non-perishable food and personal care distribution to approximately 600 stores located in rural zones (towns with less than 5,000 inhabitants). The project consists in the expansion of the pilot cell through the development of 36 cells that will target 4.8 million households in 602 municipalities and 14,740 villages, with an expected investment initially estimated at MXP $209 million (US$16.1 million). MiTienda offers modernization programs to its customers, which will contribute to increasing sales and efficiency. MiTienda will also implement an affiliation program to modernized stores and it will use its brand name to promote a certain level of quality offered by the stores.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	2.48

Development Impact

The Project will have a strong development impact by: • Securing regular supply of key basic products in MiTienda’s zone of influence, which is currently excluded from the formal retail supply chain • Supporting the development of small businesses in rural areas through MiTienda’s training and modernization programs. • Increasing the offering and diversity of products at competitive prices for the rural population. • Enhancing access to credit to the stores who purchase from Mi Tienda.

IFC will provide long term equity financing to support the Company’s expansion program in remote parts of the country. • Anchor Investor: IFC’s involvement and participation is expected to have an anchor effect in attracting the necessary capital to develop the project. • Stamp of Approval: Project Sponsor is seeking IFC’s involvement as a long term partner in the promotion and the replication of the project in other geographies. • Best practices: IFC will introduce environmental, social and industry best practices.

This is a category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.

Key environmental and social issues identified during the appraisal include the following:
• Environmental and social management capacity during the expansion of the company
• Labor and working conditions
• Air emissions from the fleet
• Life and fire safety in the distribution centers, and
• Solid waste management, including expired/damaged products
The project is expected to have positive social outcomes, in particular by supporting and training entrepreneurs in Mexico, mainly women who owns the stores.

Please refer to the Environmental and Social Review Summary (ESRS) for further information.

Contacts

For Inquiries About the Project, Contact

Mr. Valentin Martinez Gama Z., CEO Reforma 1110 Lomas de Chapultepec México D.F. 11000 México Tel: + 52 55 55 40 72 22 Fax: + 52 55 55 40 72 21 ext. 15

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

Translated versions of the ESRS and the EAP will be available at MiTienda Adolfo López Mateo S/N Col. Fovisste Atlacomulco, Estado de Mexico, C.P. 50450 Contact Person: Alberto Gutierrez

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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