World Bank invests in Colombian company

Published: 19-Aug-2008

The International Finance Corporation (IFC), an affiliate of the World Bank specialising in the private sector, is to take a 10% equity stake in Tecnoquimicas, a Colombia-based pharmaceutical manufacturing and distribution firm.


The International Finance Corporation (IFC), an affiliate of the World Bank specialising in the private sector, is to take a 10% equity stake in Tecnoquimicas, a Colombia-based pharmaceutical manufacturing and distribution firm.

IFC's investment of US$25m (Euro 17m) will support the expansion of the company's operations in the Andean region and Central America.

IFC said it was supporting "a market leader in Colombia" to implement sustainable regional expansion, strengthen its competitiveness in local and regional markets and help enhance the firm's corporate governance, international manufacturing practices, and quality assurance.

Tecnoquimicas and its subsidiaries have nine manufacturing plants in Colombia, focusing on pharmaceutical and associated products. These are sold mostly in Colombia, although the group also exports to other Latin American countries.

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