IDB Invest, a member of the Inter-American Development Bank (IDB) Group, financed a $5 million loan to Companex S.A., one of the main importers, marketers and distributors of consumer products in Bolivia.
The loan will finance the purchase of merchandise, an important asset of the working capital of the company. This dollars-denominated operation complements Companex’ access to Bolivian bolivianos in the local market.
In Bolivia, the majority of sales of mass consumer products are made through retail stores. Companex has 19,000 microenterprises as clients, including many small neighborhood stores. In certain cases, Companex also provides direct credits, in the form of merchandise, to these customers.
During the life of the loan, Companex and IDB Invest will work on joint initiatives to improve environmental and social management systems within Companex, and to increase the proportion of customers who receive direct credit from Companex.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a portfolio of assets of $12.1 billion under management and 329 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the needs of its clients.
Companex is a Bolivian company with more than 30 years of experience in the commercialization of consumer goods (i.e., toiletries, detergents, packaged food products, etc.). The company has its own warehouse network and distribution fleet, together with a sales force that allows it to reach most of the Bolivian territory. Thanks to this network, Companex distributes products to clients located in cities, as well as peri-urban and rural areas in eight of the nine departments of Bolivia. Companex has a diversified portfolio of clients, from large supermarkets to small neighborhood stores.