EBRD To Provide Up To $20M To Uzbekistan's Star Group For Expansion
The financing will be extended to four Star Group entities: Support Samarqand, Bloomshop, Star Distribution and Star FMCG, according to the EBRD.
The loan will support the group's working capital requirements and expansion plans, including the development of its beauty retail chain operating in Tashkent and Samarkand. The company plans to use the funds to increase its regional presence and broaden its product range.
Additionally, the project will include grant funding from the EBRD and the Japan-EBRD Cooperation Fund to help Star Group develop and implement a corporate governance action plan.
In addition, the EBRD will support initiatives to promote women's career development and employee retention through the establishment of a mentorship program for female staff.
Star Group is a Uzbekistan-based distributor of fast-moving consumer goods (FMCG), operating across several business segments, including distribution and retail. Its portfolio includes beauty retail operations through Bloomshop.
The EBRD has invested nearly $7.3 billion in Uzbekistan through 219 projects to date, with most of its financing directed toward supporting private-sector businesses and entrepreneurship.
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