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According to the EBRD, the project consists of the provision of a senior secured loan of up to US$ 14 million to Star Group, a fast-growing distributor of fast moving consumer goods (FMCG) based in Uzbekistan. The loan will support Star Group's growing working capital needs (including for the construction of a new warehouse for inventory storage) associated with its growth and the expansion to the regions of Uzbekistan.
The project aims to (i) strengthen Star Group's competitive position by adopting international standards such as ISO and IFRS, (ii) promote inclusive employment opportunities and support gender equality, and (iii) contribute to the reduction of the client's carbon footprint and thus promoting green economy through its usage of alternative energy sources.
Specifically, the loan will finance (i) the working capital needs for the procurement of FMCG for the Group's distribution and beauty chain businesses and capital expenditure (CapEx) needs for the purchase of photo voltaic panels and electric vehicles; and (ii) the construction of a Class A warehouse, including the procurement of additional photo voltaic panels.
As stated by the EBRD, Star Group, founded in 2008, is a fast-growing local distributor of FMCG in Uzbekistan. The Group also operates a chain of beauty and personal care shops under its own brand "Bloom" in Tashkent.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Star Group (Uzbekistan) | Client | Industry and Trade |
Client - Star Group:
Batirali Alinazarov
Email: alinazarov.batirali@stargroup.uz
Phone: +998909699089
Address: 1A, Arnasoy street, Chilonzor district, Tashkent, Uzbekistan
ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en
You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html