According to the Inter-American Development Bank Invest, formerly the Inter-American Investment Corporation, this project with Genomma Lab has two components:
(i) an Uncommitted Revolving Line of Credit for MX$200 million, or its equivalent in US$ to purchase accounts payables issued by Genomma Lab or one of its eligible subsidiaries. The fund will have an initial tenor of 12 months, renewable on a yearly basis at IDB Invest's discretion for up to 6 additional years
(ii) a long-term loan for up to MX$1.0 billion to finance the construction, equipment and operation of its new manufacturing plant in Toluca, Estado de Mexico.
(i) an Uncommitted Revolving Line of Credit for MX$200 million, or its equivalent in US$ (“Facility”) to purchase accounts payables issued by Genomma Lab or one of its eligible subsidiaries. The Facility will have an initial tenor of 12 months, renewable on a yearly basis at IDB Invest’s discretion for up to 6 additional years
(ii) a long-term loan for up to MX$1.0 billion to finance the construction, equipment and operation of its new manufacturing plant in Toluca, Estado de México.
According to the Inter-American Investment Corporation, Genomma Lab is a Mexican-based company operating across Latin America and the Caribbean. They specialize in the packaging and distribution of over the counter drugs (OTC) and pharmaceuticals. They’ve been listed on the Mexican stock exchange since 2008, and on the exchange’s Sustainability Index since 2011. They currently distribute products across 19 countries, and with the proposed construction of their first production plant, aim to be a regional leader in OTC products competing with a range of name-brand multinational companies. As of December 15, 2017, the company employed 832 people across the region, 502 of which are in Mexico. Roughly 35% of employees are female and 65% are male.
Project Contact: Antonio Zamora
Chief Financial Officer
Phone number:+52 55 5081 0082
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).