BAKU, Azerbaijan, May 11. The European Bank for Reconstruction and Development (EBRD) provides a senior secured loan worth $23 million to Uzbekistan’s ‘Meros Pharm’ LLC, one of the biggest private wholesale pharmaceuticals distribution companies in the country, Trend reports, citing the EBRD.
The project aims to assist the company in meeting its growing financial needs, which are caused by the provision of a large range of branded high-quality, and affordable medicines to the regions of Uzbekistan.
The EBRD expects that the funds will help the company not only to establish a training academy to improve the skills-related needs of its core operational personnel but also to maintain competitiveness.
According to the bank’s estimations, to maintain competitiveness Meros Pharm will introduce Good Distribution Practice (GDP) standards for the new warehouses.
The introduction of GDP standards will ensure that the quality and integrity of the company’s medicines are maintained throughout the supply chain.
Meanwhile, as of the beginning of April 2023, the loan portfolio of the European Bank for Reconstruction and Development projects in Uzbekistan is estimated at 2.4 billion euros.
In general, the bank has invested more than 4.1 billion euros in 129 projects in Uzbekistan.
