The European Bank for Reconstruction and Development (EBRD) is providing a US$ 5 million to support the expansion of the Moldovan food retail chain Unimarket Discounter SRL. The loan will be used to open new stores, a warehouse and a logistics center, the EBRD said in a press release.
Unimarket's US$ 6.5 million investment plan includes the opening of 17 new shops both in Chisinau and smaller cities like Hincesti, Donduseni, Drochia, Edinet and Soroca. The company also plans to set up a new warehouse and a logistics center to service its retail network and improve cost efficiency.
Gilles Mettetal, EBRD Director for Agribusiness, said that Unimarket has strong growth potential with significant opportunities in particular outside the capital city. “The EBRD is pleased to support its expansion outside Chisinau where new shops will provide customers with the opportunity to shop for affordable food in convenient locations and will also boost the local economy and create jobs,” said Gilles Mettetal.
The EBRD is the largest institutional investor in Moldova. To date, the EBRD has invested some €900 million in over 100 projects in the country.