The European Bank for Reconstruction and Development (EBRD) is providing a $25.8 million loan to OMA, a retail chain in Belarus, to help the company expand and open more stores in the next few years.

OMA plans to open nine new locations before 2020. The loan extension will help OMA be more competitive, which EBRD thinks will be good Belarus' economy, according to an EBRD press release.

“The expansion of such significant international retailers in Belarus sends a strong signal to other existing and potential investors," Phil Bennett, EBRD's first vice president, said in the release. "The EBRD supports this excellent example of cross-border cooperation which will create new jobs and bring new technologies, making the local economy more competitive."

OMA's CEO Dmitry Petrusha echoed Bennett's sentiments. 

“This project is very important not only for us, but for the economy of Belarus, too," Petrusha said in the release. "Attracting foreign direct investment will help us to develop the company which will in turn support the construction industry of Belarus. By expanding our network we will offer a wider choice of Belarus-made goods and create new jobs, especially for young recent graduates. The EBRD’s decision to finance the project proves that the company adheres to high operational, environmental and labor standards.

OMA is a joint venture between investors in Belarus and Lithuania’s UAB Kesko Senukai. The OMA expansion is also expected to boost the retailer's logistics and back-office operations.