Azerbaijan, Baku, Nov. 15 / Trend E. Kosolapova/
The EBRD is boosting competition in the Georgian retail sector with a $26 million loan to Smart Supermarkets, one of the most recent retailers in the country, to expand its network, the Bank reported.
"The facility will enable the company to finance the construction of a distribution centre as well as up to 28 new supermarkets and convenience stores throughout Georgia," the Bank said.
The project will have an additional energy efficiency component, where part of the facility will be used to invest in advanced sustainable energy technologies leading to better energy performance.
Technical cooperation support for this operation has been provided by the Regional Corporate Energy Efficiency Program funded by the EU NIF and the ETC fund.
Smart Retail is a local Georgian company with three supermarkets and seven convenient stores located both in Tbilisi and the regions.