• The project seeks to increase access to medications for underserved populations.

IDB Invest will provide financing of up to $5 million to Farmacias Corporativas S.A. (Farmacorp), one of the largest pharmacy chains in Bolivia, aimed at increasing access to medical and hospital supplies and other pharmaceutical products, while bolstering the health sector in the country.

Farmacorp is expected to expand its geographic coverage with this project, reaching almost 300 points of sale by 2025 in addition to growing in digital sales. For the next few years, the company hopes to reach a workforce of around 3,500 employees, including 70% women. This requires the creation of around 1,000 new jobs, mainly for women.

IDB Invest will also provide advisory services focused on improving the positioning of its own business line, known as Doctor Osvaldo, which consists of quality and affordable products, aimed at the most underserved and low-income segments of the population in the country. 

This is IDB Invest's first project in the pharmaceutical sector in Bolivia. The project is aligned with IDB Invest's commitment to promote the healthcare sector and its value chain in Latin American and Caribbean countries to improve people's lives.

The deal is expected to contribute to four United Nations Sustainable Development Goals (SDGs): Health and Well-being (SDG 3), Gender Equality (SDG 5), Decent Work and Economic Growth (SDG 8), Responsible Production and Consumption (SDG 12).

About IDB Invest

IDB Invest, a member of the 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 companies and projects so that they achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in a variety of sectors.

About Farmacorp

Farmacorp is part of the Nexocorp business group. Considered its flagship brand, Farmacorp was established 87 years ago and is in the top two of the most reputable companies in the Merco Ranking and in the top two of the Leading Employer Ranking. Farmacorp's portfolio of business units includes the Dr. Osvaldo pharmacy chain, the Amarket supermarket chain and the Salud 360 primary care system, which provides telemedicine services and prevention campaigns for the population. At the end of 2023, the corporation had more than 200 branches open in all the departmental capitals and the main intermediate cities, in addition to the service in online channels through its e-commerce and its mobile application, which operate under a omnichannel system.