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Eng
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- EBRD lends €6 million to ABN-MB Group
- Funds will support Group’s expansion and efficiency measures
- Project supported by up to €70,000 concessional finance through the FINTECC programme
The European Bank for Reconstruction and Development (EBRD) is promoting competition in Uzbekistan’s food-service sector by supporting ABN-MB Group, a popular operator of coffee shops and restaurants across the country.
The EBRD’s loan of up to €6 million will finance the Group’s capital expansion programme. The funds will be used to purchase specialist food-production equipment and to construct a new production and warehousing facility, which will double its centralised food-production capacity. This investment will help to increase the Group’s overall efficiency and reduce its reliance on imported produce, as the Group further plans to localise key food-production processes.
Support for the expansion is expected in the form of blended concessional finance of up to €70,000, provided through the EBRD's Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, which offers financial incentives to encourage the adoption of climate-friendly technologies.
ABN-MB Group plans to use the FINTECC financing to acquire energy-efficient equipment and insulation materials and to install solar panels.
The project is supported by the Japan-EBRD Cooperation Fund.
The EBRD has invested almost US$ 6.9 billion (€5.8 billion) in Uzbekistan to date across 205 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 six years.