The European Bank for Reconstruction and Development (EBRD) said Monday that it has approved a loan equal to $5 million for an expansion plan by Unimarket, a Moldavan food and retail chain.

The company's investment plan includes opening 17 new locations in the capital of Chisinau and in smaller cities throughout the country. It also will open a new warehouse and logistics center soon to improve cost efficiency.

“Unimarket has strong growth potential with significant opportunities in particular outside the capital city," EBRD Director for Agribusiness Gilles Mettetal said. "While customers in smaller cities are looking to switch from traditional open markets, Unimarket as a discount retailer is well-positioned to seize these opportunities. The EBRD is pleased to support its expansion outside Chisinau, where new shops will provide customers with the opportunity to shop for affordable food in convenient locations and will also boost the local economy and create jobs."

Unimarket also will take on energy-efficiency measures that are expected to save 29 percent on electricity and nearly 100 percent on gas.