International Finance Corporation to finance ‘systemic change in Mexican retailing’

IFC, the World Bank’s investment arm, has signed a long-term agreement with Sistema Integral de Abasto Rural, SA CV (Mi Tienda), to finance an expansion of Mi Tienda’s operation. The proposed expansion will create 36 distribution centres, whose main target group will be rural shops in 14,740 small Mexican villages. In addition to providing necessities such as food and consumer goods, Mi Tienda’s distribution system will provide a platform for services such as insurance, payment of utility bills, branchless banking and microcredit. ‘IFC’s investment will help us generate a systemic change in Mexican retailing, resulting in improved services and accessibility to a wider range of products at affordable prices for rural communities,’ said José Ignacio Avalos, Mi Tienda’s founder.

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