- €3.5 million EBRD equity investment in supermarket chain Schiever Tajikistan
- New supermarkets to open around the country
- Better retail standards to benefit for customers
Customers across Tajikistan will enjoy better retail standards as a result of the expansion of Schiever Tajikistan supermarkets across the country with support by the EBRD.
New stores operating under Schiever’s Bi1 brand will offer new standards in food quality, hygiene and logistics as well as lower prices compared to the country’s traditional open-air markets.
Reliable but affordable food retail outlets are a necessity for Tajikistan, where macroeconomic challenges affects the purchasing power of the local population.
The EBRD’s investment of €3.5 million will help the expansion of the country’s leading retailer Schiever Tajikistan, which holds the franchise for Auchan hypermarkets.
The Bank, which has a 34 per cent stake in Schiever Tajikistan, has been working with Schiever Group of France since 2015 on improving retail standards in the country. Schiever Group also is contributing €6.5 million towards the implementation of the expansion programme.
The signing ceremony was held at the State Committee on Investments and State Property Management of the Republic of Tajikistan. The ceremony was attended by the government represented by Chairman of the State Committee on Investments and State Property Management Mr F. Hamralizoda, EBRD Governor for the Republic of Tajikistan.
To date, the EBRD has invested nearly €690 million in various sectors of Tajikistan’s economy.