The European Bank for Reconstruction and Development (EBRD) has extended a loan of up to US$ 10mn to enhance the CA-store’s operational capacities beyond Tashkent, the capital city.
EBRD continues to bolster Uzbekistan’s retail sector by supporting the expansion of the CA-store, a prominent consumer electronics and household appliances chain formerly known as "Credit Asia".
This financial injection aims to meet the CA-store’s working capital requirements as it expands its footprint to major cities across Uzbekistan in the coming years. The funding will also play a pivotal role in revolutionizing the country’s burgeoning e-commerce market by introducing advanced online sales platforms.
CA-store’s broader regional coverage is anticipated to foster economic formalization by ensuring the sale of authentic goods and adherence to national tax regulations. This initiative is poised to contribute significantly to curbing the shadow economy.
"As part of this initiative, the CA-store is committed to creating equitable employment opportunities and fostering inclusivity for customers across all regions of Uzbekistan," highlighted a spokesperson from the company.
Uzbekistan has emerged as a key beneficiary of EBRD investments in Central Asia, with the Bank allocating approximately €4.7bn across 162 projects to date. A substantial portion of these funds has been directed towards bolstering private entrepreneurship within the country.
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