EBRD Invests In Uzbek Food Retail

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The European Bank for Reconstruction and Development (EBRD) said on Wednesday that it had made its first investment in an Uzbek company for 10 years.

It paid US$40m for a minority stake in the Singapore-based company that owns Uzbek food retailer Korzinka. This follows Carrefours re-investment into the Uzbek market last year.

The EBRD re-opened its office in Tashkent in 2017, less than a year after the death of Islam Karimov, the authoritarian former leader of Uzbekistan.

This purchase is an important part of the rehabilitation process for Uzbekistan. With the EBRD once again buying stakes in Uzbek companies and investing in Uzbek projects, confidence among prospective foreign investors will lift.

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