From the Inter-American Development Bank Invest (IDB Invest), formerly the Inter-American Investment Corporation (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.
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.
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).