The European Bank for Reconstruction and Development (EBRD) and Belarus-focused private equity fund manager Zubr Capital have agreed to invest in Mila, a Belarus-based retailer of personal and home care products owned by ParfumBytKhim Group. EBRD and Zubr will acquire a stake of up to 20 percent in Mila through the transaction. The company will use the funds to open 150 new stores by 2022, refurbish existing stores, and construct a warehouse to improve company logistics. Financial details of the transaction were not disclosed.