Baku, Azerbaijan, March 28
By Fikret Dolukhanov – Trend:
The International Finance Corporation (IFC), a member of the World Bank Group, will provide Tajik company Tajero, one of the country's largest food import and distribution companies, with $2 million to support operational expansion, the press service of the IFC announced on March 28.
According to the information, funds will be provided to promote development of the food supply chain and further growth of small and medium-sized enterprises that cooperate with Tajero.
“We expect this investment to help us optimize costs, increase the availability of our products to more consumers and provide our customers with wider range of products. We plan to increase sales in future by local products and expand cooperation with local retail outlets," said the founder of Tajero Abdurahmon Gaybullozoda.
The company plans to cooperate with more than 6,500 micro, small and medium retail customers, half of which are located outside the state capital.
“This investment complies with IFC's strategy to assist transitional economies in developing their retail sectors, which is a key to creating jobs, lowering food prices and other essential commodities, as well as increasing local business standards," head of the IFC Tajikistan Manizha Mamadnabieva said.
“Tajero” focuses its activity on consumers with low and middle income levels, and the extensive network allows the company to realize the maximum possible presence of goods both in cities and in remote settlements of Tajikistan.
The company believes that development of the local supply network will help improving local standards and increasing availability of imported goods, at the same time providing consumers with access to better and safer products.
IFC, a member of the World Bank Group, is the largest global development institution that works to support the private sector in emerging markets. In 2017 fiscal year, IFC invested almost $19.3 billion in emerging markets, offering funds and expertise to private sector to address critical issues in eradicating extreme poverty and improving general welfare.