Umai Group secures $50M IFC loan to double store footprint
What's the deal? Umai Group, the Kyrgyz Republic's largest grocery retailer, has secured a $50 million (€44 million) loan facility from the International Finance Corporation (IFC). The company will use the financing to build a new distribution centre and fund store expansion.
What's the endgame? Umai Group plans to build a centralised, multi-temperature, EDGE-certified distribution centre in Bishkek, expected to be completed in mid-2027. The facility will serve as the principal distribution hub for the retailer's 172 stores.
Who's involved? Founded in 2002 under the Narodnyi brand, Umai Group now serves more than 280,000 customers daily across its GlobusDealroom has a profile for this one. Try Dealroom →, Narodnyi, SPAR, and Dostor brands. Visor InternationalDealroom has a profile for this one. Try Dealroom → acquired the company in 2006 and has scaled it into a multi-format grocery retail and logistics business.
The company aims to "approximately double our store footprint over the medium term," said Rud Pedersen, chairman of Umai Group's supervisory board. He added that the expansion would indirectly support more than 22,000 jobs in the Kyrgyz Republic.
Why now? IFC, the World BankDealroom has a profile for this one. Try Dealroom →'s private-sector arm, focuses on emerging markets, and its backing signals confidence in one of Central Asia's fastest-growing economies. The Kyrgyz Republic recorded real GDP growth of 11.1% in 2025.
The signal: The deal reflects growing investor interest in modernising food retail across Central Asia. As IFC's Lukas Casey put it, modern private food retail "can make food affordable and of consistent quality for consumers while also creating opportunities for farmers and others at scale, especially outside major cities."
Read more: ESM Magazine
