WASHINGTON, USA – IDB Invest has provided financing of up to $10 million to Salvadoran pharmaceutical company Ancalmo S.A. de C.V. to expand and modernise its production capacity and strengthen its operations in El Salvador.
The financing will support the refurbishment, expansion, and installation of high-efficiency equipment at a new production facility, the acquisition of machinery and equipment, the strengthening of working capital, and other investments aimed at increasing the company’s manufacturing capacity.
The project will help strengthen local pharmaceutical production and support Ancalmo’s growth plans in El Salvador and across Central America, the Caribbean, and Mexico. It will also expand the company’s export capacity, generate formal employment, and strengthen linkages with domestic suppliers.
The financing consists of a loan of up to $10 million, comprising a committed tranche of $8 million and an uncommitted tranche of up to $2 million, with a term of up to eleven years.
“This operation reflects our commitment to supporting a strategic sector such as pharmaceuticals while fostering the growth of Salvadoran companies that create jobs, strengthen local production, and have the potential to compete in regional markets. Through this financing and our technical support, we are helping Ancalmo enter a new phase of expansion with enhanced production capabilities,” said Rodrigo Navas, director of Corporates for Central America, Haiti, Mexico, Panama, and the Dominican Republic at IDB Invest.
In addition to the financing, IDB Invest will support Ancalmo in strengthening its corporate governance practices and provide technical assistance to assess energy self-supply solutions for the new facility. The operation also includes measures to strengthen the company’s environmental and social management.