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On July 1, the European Bank for Reconstruction and Development (EBRD) announced its support to further develop 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 (formerly Credit Asia). The loan of up to $10 million will finance the working capital required by CA-store for its expansion beyond the capital city of Tashkent. It is expected that in the coming years, the Uzbek retailer will extend its business to all the country’s major cities. The funds will also be used to develop CA-store’s online sales by introducing new e-commerce standards in Uzbekistan’s fast growing e-commerce market and offer online shopping 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 national tax requirements. Integral to the project, is a commitment by CA-store to create equal and fair employment opportunities for staff.
A new water intake facility has been launched in the Cholpon-Ata resort at Kyrgyzstan’s Lake Issyk-Kul thanks to a joint investment of EUR 5.1 million from the European Union, the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD). The opening ceremony on 11 May was attended by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov. The European Union’s grant of EUR 3.1 million, combined with an EIB and EBRD investment loan of EUR 2.25 million, funded vital improvements to the city’s water supply system which had not been upgraded since it began operating in 1986. According to the EU Delegation to the Kyrgyz Republic, by helping eliminate the risk of water-borne diseases, the project has provided over 19,000 citizens of Cholpon-Ata with regular access to safe drinking water and sanitation services. To date, grants exceeding EUR 100 million from the EU have leveraged EUR 205 million investments to support Kyrgyzstan’s drinking water, solid waste management, and energy services, benefitting over 376,000 citizens in 14 cities and eight villages across the country.
