Increase in line of credit for Corporación Favorita CA approved

(Quito, April 28, 2010).- The Andean Development Corporation (CAF) approved an increase in the line of credit of Corporación Favorita C.A from US$15 to US$20 million. The company is the second largest in the country and during 56 years of operations has received innumerable recognitions and distinctions.

The additional funds will provide Corporación Favorita CA with a source of financing for its permanent working capital needs, stimulate growth and improve the efficiency and competitiveness of its products.

CAF has been supporting the Ecuadorian private sector, implementing operations and channeling funds in favor of banks and companies directed at investments in fixed assets, expansions of plant and permanent working capital. The aim of the facility granted to Corporación Favorita C.A is to promote the country’s productive sector by backing the leading companies in their category.

About Corporación Favorita C.A Corporación Favorita CA is an Ecuadorian company founded in 1957, leader in retail sales of all types of local and imported merchandise.