EBRD to provide Auto Rubber up to $10 million for production expansion
The EBRD will provide a loan of up to $10 million to the Uzbek company Auto Rubber for the expansion and localization of automotive rubber component production.
EBRD to Allocate Up to $10 Million to Auto Rubber for Production Expansion
The European Bank for Reconstruction and Development (EBRD) will provide Uzbek automotive rubber components manufacturer Auto Rubber with a loan of up to $10 million to increase production capacity and localize product manufacturing.
The company manufactures rubber sealing systems for vehicles and other technical rubber products. The bank's funds will be directed toward implementing the enterprise's development program, including the installation of new equipment for semi-finished products and the launch of a rubber compound production line.
The implementation of the project will allow Auto Rubber to expand its lineup of manufactured automotive components and strengthen its production base.
In addition to financing, the EBRD will assist the company in improving corporate governance and promoting gender equality. In particular, the enterprise intends to develop and implement relevant internal documents and policies.
The project will also receive grant support funded by the Japan-EBRD Cooperation Fund.
According to the bank, its total volume of investments in Uzbekistan has reached nearly $7.3 billion. These funds were directed toward the implementation of 219 projects, a significant portion of which is linked to supporting private entrepreneurship.