PROJECT

Projects

Summary of Investment Information

Project Number

37855

Company Name

PROVEFARMA SA

Date SPI Disclosed

Mar 7, 2016

Country

Ecuador

Region

Latin America and the Caribbean

Projected Board Date

Apr 5, 2016

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS LAC & EUR

Industry

Health, Education and Life Sciences

Previous Events

Approved : May 10, 2016
Signed : Jun 1, 2016
Invested : Sep 26, 2016

Sector

Other Medical

Project Description

Founded 85 years ago, Corporacion GPF is the leading privately held retailer of pharmacy and other related convenience store-type products in Ecuador. The proposed Project is a Corporate A Loan of up to US$30 million, to Corporacion GPF (“GPF” or the “Company”). The Project, estimated for a total cost of US$50 million, will improve the logistics and distribution processes of Ecuador’s largest pharmaceutical retailer. GPF has 636 points of sales (POS), mostly owned, approximate sales of US$630m in 2015, and over 5,000 direct employees (of which 66% are women).

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation