Embawood Increases the Quality of Furniture by EBRD

Azerbaijan furniture manufacturer - the company Embawood has got a loan of $ 12 million from the European Bank for Reconstruction and Development (EBRD).

According to the international banking structure (http://www.ebrd.com/pages/news/press/2013/130511.shtml), funds were allocated under the improvement of production capacity.

Part of the loan is intended to improve the energy efficiency of three manufacturing sites Embawood. Also allocated was EUR 120 thousand as a grant under the Regional Programme for the energy efficiency of the corporate sector.

Embawood, according to official figures, is the largest local manufacturer and retailer of home and office furniture in Azerbaijan. He has seven plants, three of which are in Azerbaijan (including Hyrdalan and Masally), two in Georgia, one in Ukraine, and Uzbekistan. Retail sales network covers Embawood 200 stores in 10 countries of the CIS and Turkey.

The EBRD is working with the company since 2003 Embawood program BAS (Business Advisory Services) and TAM (Turn Around Management).

According to Paul-Henri Forestier, EBRD Director for Caucasus, Moldova and Belarus, "We intend to continue to support our customers' efforts to control the quality of their products and energy efficiency. This is another indication of the commitment of the company responsible for the quality, good corporate governance and social responsibility. "

The EBRD in various sectors of the economy of Azerbaijan has implemented 131 investment of more than $ 2.1 billion - 17D-