TASHKENT, Uzbekistan, May 7. The European Bank for Reconstruction and Development (EBRD) plans to sign an agreement with Uzbekistan’s Star Group (a fast-growing distributor of fast moving consumer goods) on granting a loan of up to $14 million, Trend reports.
According to the EBRD, the loan will support Star Group's growing working capital needs and capital expenditure plans (including the construction of a new warehouse for inventory storage) associated with its growth and expansion into the regions of Uzbekistan.
The loan will cover the working capital requirements for the acquisition of a rapidly growing distributor of fast-moving consumer goods for Star Group's distribution.
At the same time, the funds will support beauty chain businesses and capital expenditure needs for the purchase of photovoltaic panels and electric vehicles, as well as the construction of a Class A warehouse, including the procurement of additional photovoltaic panels.
Meanwhile, the current loan portfolio of EBRD projects in Uzbekistan has totaled 2.4 billion euros as of February 29, 2024.
The EBRD specifically calculates its loan portfolio for the implementation of 85 projects.