IIC signs loan with Securepharma in Dominican Republic
The Inter-American Investment Corporation (IIC) has signed a US$ 4.1 million loan with The Securepharma Partnership S.R.L. ("Securepharma") to finance part of the company's investments in production lines in the Dominican Republic.
The loan will allow Securepharma to produce, under its own brands, goods that it currently buys to maquilas, thus vertically integrating its operations and saving in the processes of transport, logistics, import and inventory maintenance.
The project will increase supply of baby wipes and chicken broth concentrates in the Dominican Republic, two mass consumer products with high demand in the country. The company's extensive distribution network will make it possible to reach areas that are less well served by other brands.
In addition to providing financing, the IIC will strengthen Securepharma's environmental and corporate governance safeguards through technical cooperation. The IIC and Securepharma are also working on a pilot initiative to disseminate maternal and child health information along with baby wipes produced by the project.
Investment Officer, IIC
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of US$7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.