The European Bank for Reconstruction and Development (EBRD) is expanding its partnership with Texnomart, Uzbekistan’s leading retailer of consumer electronics and appliances.

The EBRD’s financing programme of US$ 10 million (€8.6 million) will help Texnomart to invest in modern retail infrastructure and digital services aimed at enhancing its efficiency, service quality, and customer experience, The Caspian Post reports, citing EBRD.

The funds will be used to acquire new equipment, upgrade the company’s IT infrastructure and widen its product range.

The project will support human capital development through internal capacity building initiatives, structured learning programmes, and an internship scheme implemented in cooperation with local educational institutions.

The project will benefit from technical assistance provided by the Japan Europe Cooperation Fund.

The EBRD has invested almost US$ 6.9 billion (€5.9 billion) in Uzbekistan to date across 208 projects, with most of the funds supporting private entrepreneurship. The country has been the leading recipient of EBRD funding in Central Asia for each of the past six years.