Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Dominican Republic
Location: Santiago de los Caballeros
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-11-08
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: The Securepharma Partnership S.R.L.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 4.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 5.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-08-08
Disclosure Date: 2016-10-05
Securepharma Expansion
IIC-11608-01

Project Description
From the IIC: The project consists of the installation and operation of: a) a production line for baby wipes, first of its kind in the country; and b) a production line for chicken broth. Both will be located in the city of Santiago de los Caballeros, Dominican Republic. Securepharma, the Borrower, is an importer, wholesale distributor, and (to a lesser extent) packager of personal hygiene products, baby products, and foodstuffs. The objective of the loan is to assist in efforts to expand Securepharma's manufacturing capacity while following international standards. The project will also contribute to increasing capacity to produce basic consumer goods and make them available to the population. According to the IIC Environmental and Social Sustainability Policy, this is a Category B project, as potential environmental and social risks and impacts are generally limited to the project site, are largely reversible, and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Investment Description
The total cost of the project is estimated at US$5.1 million, including working capital requirements. The IIC would grant a loan of US$4.0 million.
Contact Information
ACCOUNTABILITY MECHANISM OF IIC The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).