Carrefour set to expand as a result of EBRD loan

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Carrefour set to expand as a result of EBRD loan

source own

The European Bank for Reconstruction and Development (EBRD) has announced plans for financing of up to $40 million for Carrefour supermarkets and hypermarkets. Majid Al Futtaim are set to receive the funds as they are currently the rights holders of the Carrefour franchise in nearly forty countries, including Georgia, where the money will be invested. Majid Al Futtaim are well-known for developing and investing in shopping malls particularly in the Middle East and in Africa and will be the company responsible for opening new Carrefour stores across Georgia in an attempt to increase their profile and therefore sales and profit until the brand becomes a household name.

Image provided by: © Emilio100 | Dreamstime.com - Carrefour Hypermarket Photo

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