IFC BACKS FIRST FOOD GROCERY CHAIN IN AZERBAIJAN
February 1st, 2007
BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC), of the World Bank, is pumping US$18 million into the planned roll-out of Azerbaijan's first mass market food retail chain. This investment will help the Azeri-owned ADA Group open more than 50 'Almali' grocery stores in and around the oil-rich country's capital Baku over the next three years.
THE INTERNATIONAL Finance Corporation (IFC), of the World Bank, is pumping US$18 million into the planned roll-out of Azerbaijan's first mass market food retail chain. This investment will help the Azeri-owned ADA Group open more than 50 'Almali' grocery stores in and around the oil-rich country's capital Baku over the next three years.
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