Company name
Farmacorp S.A. (“Farmarcorp” o la “Compañía)
Project number
13144-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Bolivia
Sector
Manufacturing
Status
In implementation
Disclosed date
05/21/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/22/2021
Approval date
10/22/2021
Signed date
12/21/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
This transaction involves a revolving and uncommitted line of credit in favor of Farmacorp S.A. (hereinafter "Farmacorp" or the "Company") in Bolivia. These funds will be used to import medical and hospital supplies from foreign suppliers.
Farmacorp is the largest and most experienced retail drugstore business in Bolivia. The Company sells drugs (82%), food, cosmetics and miscellaneous personal care and wellness products. Farmacorp sells private or own brand products that represent 5% of its range. However, it mostly represents international brands in Bolivia, including GNC Live Well, About Time, Foster Grant, Jockey, Ubu and Scunci. The Company has 70 years’ experience and its market share of the drugstore chain segment is about 46%. Its stores are concentrated in the Santa Cruz and Cochabamba departments, but it also has stores in La Paz, Tarija and Oruro.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
info@farmacorp.com
PHONE NUMBER
+591 3 3489190
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
FARMACORP-ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
174.1 Kb
FARMACORP-ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb