EBRD supports company in Azerbaijan to diversify into warehouse business
The European Bank for Reconstruction and Development (EBRD) is boosting supply chain resilience in Azerbaijan through a senior secured loan of up to €5.6 million to Gemza Group.
The company will use this funding for the construction of three modern and energy-efficient dry warehouses with a gross lettable area of 24,000 square metres.
Gemza Group is a local enterprise in Azerbaijan providing engineering, procurement and repair services.It manufactures spare parts for mechanical equipment and carries out repair work at its plant, but is now trying to diversify its sources of income by entering the warehousing business.
The loan is set to address the shortage of modern warehouses in Azerbaijan, strengthening the country’s supply chain resilience and enhancing warehouse capacity across the Middle Corridor. The agreement also includes the on-site installation of solar panels to generate up to 1 MW of electricity, cutting energy costs significantly.
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