EBRD Promotes Modern Retail Standards In Uzbekistan
(MENAFN- Trend News Agency)
The European bank for Reconstruction and Development (EBRD) is
supporting further development of modern retail standards and
e-commerce in Uzbekistan by financing the expansion of one of the
country's leading consumer Electronics and household appliances
chains, CA-store (previously known as“Credit Asia”), Trend reports with reference
to EBRD.
The EBRD's loan of up to US$ 10 million will finance CA-store's
working capital needs related to its expansion outside the capital
city of Tashkent. It is expected that Uzbekistan's retailer will
capture all major cities in the next few years.
The funds will be also used to develop CA-store's online sales
by introducing new e-commerce standards in the country's fast
growing e-commerce market and offer online shopping services to
customers across the country.
CA-store's increased regional coverage will contribute to the
reduction of the shadow economy by offering authentic goods and
fully complying with the national tax requirements.
As part of the project, CA-store will be both creating equal and
fair employment opportunities for its staff and offer better
inclusivity for customers in all the regions of the country.
Uzbekistan has been the leading recipient of EBRD funding in
Central Asia for four years in a row. To date, the Bank has
invested around €4.7 billion in 162 projects across the country,
with most of those funds supporting private entrepreneurship.
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