Tashkent, Uzbekistan (UzDaily.uz) — The European Bank for Reconstruction and Development (EBRD) will provide Uzbek automotive rubber components manufacturer Auto Rubber with a loan of up to US$10 million to expand production capacity and localise output.
The company specialises in manufacturing automotive rubber sealing systems and other technical rubber products. The financing will support its development programme, including the installation of new equipment to produce semi-finished goods and the launch of a rubber compounds production line.
The project will enable Auto Rubber to expand its range of automotive components and strengthen its production base.
In addition to financing, the EBRD will support the company in improving corporate governance and promoting gender equality. In particular, Auto Rubber plans to develop and introduce relevant internal policies and procedures.
The project will also receive grant support from the Japan-EBRD Cooperation Fund.
According to the bank, its total investment in Uzbekistan has reached nearly US$7.3 billion. The funds have supported 219 projects, a significant share of which are aimed at supporting private entrepreneurship.
