Early Warning System

Countries

Costa Rica

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

IDB Invest (IDBI)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

May 11, 2021

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Calox de Costa Rica S.A. ("Calox" o la "Compania")

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Industry and Trade

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 14.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ IDBI website

Updated in EWS Apr 27, 2021

Disclosed by Bank Apr 5, 2021

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

La presente operacion consiste en un prestamo corporativo de largo plazo por hasta US$14 millones, destinado a Calox de Costa Rica S.A. ("Calox" o la "Compania"). Calox es una compania con mas de 25 anos de operar en Centroamerica y el Caribe, dedicada a la produccion, distribucion y venta de productos farmaceuticos de caracter generico principalmente.

El financiamiento propuesto contempla dos objetivos principales: el primero consiste en la adquisicion de la planta actual para realizar mejoras en infraestructura y eficiencia energetica que le permitan certificarse y expandir su capacidad productiva en el mediano plazo; y el segundo consiste en proveer financiamiento de mediano plazo para capital de trabajo permanente para potenciar: (i) la expansion de medicamentos con marca propia ("Xaikus"); (ii) la expansion al mercado suramericano; y (iii) continuar con la investigacion y desarrollo de nuevos productos, asi como fortalecer su presencia en el mercado centroamericano con medicamentos utilizados para atender la crisis de salud generada por la pandemia del COVID-19.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

IDB Invest (IDBI)

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Calox de Costa Rica S.A.	Client	Industry and Trade

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Para preguntas acerca del Proyecto, favor contactar a:

Nombre: Andrés Finol Wardrop

Título: Presidente Ejecutivo

Número de teléfono: +506-2248-0506

Correo electrónico: afinol@calox.com

Para preguntas y comentarios a BID Invest, contactar:

Nombre: Grupo de Comunicación de BID Invest

Correo electrónico: requestinformation@idbinvest.org

Adicionalmente, las comunidades afectadas pueden acceder al Mecanismo Independiente de Consulta e Investigación (“MICI”) del BID Invest, de la siguiente forma:

Número de teléfono: +1 (202) 623-3952

Número de fax: +1 (202) 312-4057

Dirección: 1300 New York Ave. NW Washington, DC. USA. 20577

Correo electrónico: mecanismo@iadb.org o MICI@iadb.org