La Curacao to Open New Stores in Peru with IIC Support

11/08/2012

IIC loan will contribute to the development of microentrepreneurs in the Region

Washington, D.C., November 6, 2012 — The Inter-American Investment Corporation (IIC) has approved a loan of up to US$4.5 million to Total Artefactos, S.A. (TASA) to expand its chain of La Curacao household appliance stores in rural Peru.

“With this loan, the IIC is contributing to the sustainable growth of the company, enabling it to open up to nine stores in rural areas of the country through the end of 2013,” noted Aniceto Huertas-Corcelles, IIC investment officer in charge of the operation. “TASA’s stores are generally the first modern businesses in rural towns and represent an important driver of local economic activity.”

Juan Freire Ganoza, general manager of TASA, added, “The loan will also enable us to buttress our social responsibility plans with a training fund for women entrepreneurs, helping them generate resources and raise their families’ standard of living.”

In business for 16 years, TASA primarily sells household appliances in Peru under the La Curacao brand name. The company employs over 1,700 people and is one of the most recognized national chains of household appliances, with 90 stores throughout the country.

Many of La Curacao’s customers are microentrepreneurs who purchase their inventory from its stores. Tambogrande, Juanjuí, and Tocache are some of the areas where the chain plans to expand its operations in 2012 and 2013. The company is evaluating and negotiating its expansion to other small and medium-sized cities.

About the IIC

The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees. In 2011, the IIC reached the symbolic one-billion-dollar mark in disbursements of own and third-party funds. Throughout our history, we have benefited more than 1.6 million SMEs in Latin America and the Caribbean. For more information on the IIC’s activities, visit www.iic.org.

Contact: Aniceto Huertas-Corcelles

Telephone: +1 (202) 623-2036 in Washington, D.C.

Email: anicetohc@iadb.org