IDB Invest provides financing to Bolivian pharmacy chain Farmacorp

One of Bolivia's largest pharmacy chains, to increase the supply of medical and hospital supplies and other pharmaceutical products, thereby boosting the country's health sector.

With this project, Farmacorp expects to expand its geographic coverage, reaching almost 300 points of sale by 2025, in addition to growing in the online sales channel. Over the next few years, the company expects to reach a workforce of around 3,500 employees, including 70% women. This implies the creation of around 1,000 new jobs, mainly for women.

IDB Invest will also provide advisory services focused on improving the positioning of its own-brand business line, known as Doctor Osvaldo, which consists of quality, affordable, and safe products aimed at the most underserved and low-income segments of the population in the country.

This is the first pharmaceutical sector project supported by IDB Invest in Bolivia. The project is aligned with IDB Invest's commitment to promote the health sector and its value chain in Latin American and Caribbean countries to improve people's lives.

The operation is expected to contribute to four United Nations Sustainable Development Goals (SDGs): Health and well-being, gender equality, dignified work and economic growth, and responsible production and consumption.

Bolivian law firm Moreno Baldivieso acted as counsel to IDB Invest on the financing, with a team led by partner Andrés Moreno.