The European Bank for Reconstruction and Development (EBRD) is supporting further development of modern retail standards and e-commerce in Uzbekistan by financing the expansion of one of the country’s leading consumer electronics and household appliances chains, CA-store (previously known as “Credit Asia”).
The EBRD’s loan of up to US$ 10 million will finance CA-store’s working capital needs related to its expansion outside the capital city of Tashkent. It is expected that Uzbekistan’s retailer will capture all major cities in the next few years.
The funds will be also used to develop CA-store’s online sales by introducing new e-commerce standards in the country’s fast growing e-commerce market and offer online shopping services to customers across the country.
CA-store’s increased regional coverage will contribute to the reduction of the shadow economy by offering authentic goods and fully complying with the national tax requirements.
As part of the project, CA-store will be both creating equal and fair employment opportunities for its staff and offer better inclusivity for customers in all the regions of the country.
Uzbekistan has been the leading recipient of EBRD funding in Central Asia for four years in a row. To date, the Bank has invested around €4.7 billion in 162 projects across the country, with most of those funds supporting private entrepreneurship.
