Featured photo: Local retailer supports jobs and sustainable development in Guatemala
The Guatemala City flagship store of Cemaco, a family-owned business that operates 20 retail stores throughout Guatemala selling hardware, home goods ,toys and baby gear. OPIC, through a loan guaranty to World Business Capital, supported a $9,750,000 loan to help the business expand. The Cemaco retail chain currently has about 1,500 local employees and is committed to sustainable business practices and local procurement of goods from local artisans. In addition, through a partnership with U.S.-based ACE Hardware, it has committed to purchasing at least $1.8 million in goods every year from ACE.