PROJECT

Projects

Summary of Investment Information

Project Number

48226

Company Name

FARMAENLACE CIA. LTDA

Date SPI Disclosed

May 27, 2023

Country

Ecuador

Region

Latin America and the Caribbean

Projected Board Date

Jun 30, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 26, 2023

Department

Regional Industry MAS LAC & EUR

Industry

other

Previous Events

Approved : Jul 17, 2023
Signed : Sep 13, 2023
Invested : Nov 24, 2023

Sector

other

Project Description

The proposed investment consists of an IFC A Loan of up to US$20 million to Farmaenlace (the Company), a leading pharmaceutical retailer and distributor based in Ecuador. The proposed IFC Loan will finance the development of a new distribution center in Llano Grande following green building practices (seeking EDGE certification), the expansion of the Company’s pharmacy network across the country and the refinancing of the Company’s short-term lines (“The Project”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation