IDB Invest has provided a $1 million loan to Recinos, a large distributor of select and international brands of imported goods in Belize, to expand its operations in the manufacturing sector and support supply chain resiliency. The loan will support Recinos´ expansion program increasing its storage capacity including additional storage for its ice cream business segment, as well as related working capital needs. Having access to long-term funding to support the investments needed to maintain competitiveness is key for this type of companies.
This deal will allow for continued supply of goods from Recinos’ suppliers, most of them being small and medium enterprises (SMEs) at cost effective pricing. This is essential to support economic recovery and reduce the strain on consumers. This investment will support SMEs in Belize, as well as the neighboring countries of Guatemala and El Salvador, where key suppliers are located. The proximity of Recinos´ supply chain will improve supply chain resilience in the region while generating employment opportunities and contributing to export-led growth to the economic recovery of these countries.
Recinos Imports Limited is a large distributor of select and international brands of imported goods. Established in 1995 in San Ignacio, Belize, the Company focuses on high quality products in grocery, personal and COVID-19 safety use, home use, animal care, hardware and wines and spirits. The Company has also diversified into services and has established three retail ice cream outlets across the country.Click here to read the rest of the article in the San Pedro Sun