The Project Sponsor is Genomma, a public company listed in the Mexican Stock Exchange. The main shareholder of the Company is Mr. Rodrigo Herrera (29 percent ownership), founder of Genomma Lab. The remaining shareholding is owned by international and local institutional investors and individuals, none of them own more than a 5 percent stake.                                                   

The proposed IFC investment is a US$60 million multi-currency and multi-country working capital (“WC”) facility in the form of a corporate A-Loan for IFC’s own account to fund the Company’s expansion in Latin America driven by increased demand of paracetamol, hand sanitizers, alcohol gel and other COVID-19-related products.                                                   

Argentina, Brazil, Chile, Colombia, Ecuador and Peru.                                                   

 This is category B project according to IFC’s Policy on Environmental and Social Sustainability. Based on information reviewed by IFC, the proposed business activities are considered to involve potentially limited adverse E&S risks and impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. Key E&S risks and impacts are related to: (i) management of contractors and suppliers, (ii) labor and working conditions and (iii) management of expired or non-conforming products.