The European Bank for Reconstruction and Development is considering a loan of up to 126 million manats (around 65 million euros) for Veyseloglu Companies Group, one of the major players in Azerbaijan’s retail market.
The European Bank for Reconstruction and Development (EBRD) is reviewing a loan of up to 126 million manats for Azerbaijan’s Veyseloglu Companies Group, which operates in the retail sale of food and daily consumer goods. The financing would form part of a larger investment program worth roughly 373 million manats in total.
The funds the EBRD plans to allocate would be part of a wider financing package that other lenders are also expected to join.
According to the bank, the resources raised will go toward expanding the company’s retail network and vehicle fleet, as well as building a new distribution center in Azerbaijan.
