EBRD promotes competition by supporting Meros Pharm

• EBRD providing a loan of up to US$ 25 million to Meros Pharm
• Funds will finance working capital needs of major pharmaceutical distributor
• Company is planning to expand its network of warehouses

The European Bank for Reconstruction and Development (EBRD) is promoting competition and transparency in Uzbekistan’s pharmaceutical sector by supporting the operations of its client Meros Pharm.

The EBRD’s senior loan of up to US$ 25 million (€21.9 million) will help the country’s second largest wholesale distributor of pharmaceutical products to finance working capital needs associated with the planned regional expansion of its warehouse network. The funds will also allow Meros Pharm to better manage its stocks before and during periods of peak demand.

The expansion of the privately owned and fully compliant distributor will increase competition in the sector. It will help to address logistical challenges, improve the company’s operational performance, and shorten delivery times, giving customers across Uzbekistan improved access to high-quality, affordable medication.

Meros Pharm will also implement improvements in corporate governance supported by the EBRD.

This project will set new standards in the distribution of pharmaceutical products and support the government’s efforts to strengthen regulation and increase transparency in the sector.

The project was supported by technical cooperation funds provided by Japan-EBRD Cooperation Fund to partially cover legal due diligence cost.

The Bank has invested almost €5.6 billion in Uzbekistan to date across 181 projects, with most of the funds supporting private entrepreneurship. The country has been the leading recipient of EBRD funding in Central Asia for each of the past five years.