EBRD supports growth of Uzbekistan’s pharmaceutical distributor Meros Pharm
Tashkent, Uzbekistan (UzDaily.com) -- The European Bank for Reconstruction and Development (EBRD) is supporting the growth of one of Uzbekistan’s leading pharmaceutical distributors, Meros Pharm. The Bank is extending a loan of up to US$23 million to support the company’s working-capital needs for geographical expansion.
Meros Pharm is one of the largest and most successful private pharmaceutical distributors in Uzbekistan, with a strong presence and reputation in the market. The loan will support the company’s growth by financing the working capital needed to expand its warehouse network across the country. This will not only improve the firm’s operational efficiency and profitability, but will also bring a wide range of high-quality and affordable medication to underserved regions and cities such as Andijan, Nukus and Bukhara.
In addition, the Bank will support Meros Pharm in addressing critical gaps in skills and increasing employment in the regions which lack sufficient job opportunities for their growing populations. Together with the EBRD’s engagement and targeted technical support, Meros Pharm will establish a new in-house training academy aligned with its existing and future needs for critical skills in logistics and warehousing. Around 150 employees and new joiners are expected to benefit from the academy every year, boosting their employability.
Meros Pharm is part of Meros Group – a leading, vertically integrated pharmaceutical group covering the entire value chain from production to wholesale distribution and retail.
The EBRD is a key institutional investor in Uzbekistan, with more than €4 billion invested in 135 projects in the country to date.