Georgia receives EBRD loan for construction of hypermarkets

The European Bank for Reconstruction and Development (EBRD) has allocated 39.5 million euros for the construction of Carrefour retail stores across Georgia

"The presence of modern retailers like Carrefour will also help to create jobs and support the growth of modern retail in Georgia," EBRD Acting Head of Industry, Commerce and Agribusiness, Gilles Mettetal, said. According to him, "a special emphasis will be put on helping local food producers".

The loan was allocated to Majid Al Futtaim, which has a franchise for Carrefour stores in 38 countries in the Middle East, Africa and Central Asia.

"A key element in the EBRD-supported project is Majid Al Futtaim's ongoing commitment to sourcing a high percentage of food supplies from local farms and producers," Sputnik Georgia cited Mettetal as saying.