IFC, a member of the World Bank Group, says it is investing in Umai Group, Kyrgyzstan’s largest grocery retailer, to create more and better jobs, improve food distribution, and expand access to affordable, quality food across the country.
Umai Group is the country’s leading grocery retailer, with more than 24 years of experience in developing modern retail, logistics infrastructure, and in-house manufacturing. The company operates 172 stores under the Globus, Narodny, Dostor, and SPAR brands, serving over 280,000 customers daily.
The $50 million financing will help Umai Group build the country’s first centralized A-class grocery distribution center and expand its store network, including in underserved areas. IFC’s investment is expected to create more than 22,000 jobs through suppliers, farmers, and related sectors. With a seven-year tenor, it provides long-term funding that is scarce in the local market, where financing of this size for a single borrower is rarely available.
“We are delighted to partner with IFC on this US$50 million financing, which will enable Umai Group to serve our existing network of 172 stores while also underpinning our ambition to approximately double our store footprint over the medium term,” said Rud Pedersen, Chairman of Umai Group’s Supervisory Board. “This represents a strong endorsement of Umai Group’s leadership in the Kyrgyz Republic’s rapidly developing modern grocery retail sector, the quality of our business and governance structures, as well as the Central Asia region’s continued economic development.”
“Our investment will help Umai Group create jobs and improve food access for its customers in the Kyrgyz Republic,” said Lukas Casey, IFC’s Regional Manager for Manufacturing, Agribusiness and Services for Central Asia and Türkiye. “Modern private food retail and logistics can make food affordable and of consistent quality for consumers while also creating opportunities for farmers and others at scale, especially outside major cities.”
Kyrgyzstan’s grocery market remains largely informal, with fragmented supply chains and limited logistics infrastructure. Umai Group’s expansion will help make food distribution more efficient, reduce losses, and improve the availability and quality of products for consumers.
IFC’s investment will also create more stable market opportunities for local farmers and suppliers as Umai Group increases sourcing from domestic producers.
