BAKU, Azerbaijan, October 30. The European Bank
for Reconstruction and Development (EBRD) will provide up to $10
million in financing to Uzbekistan’s Auto Rubber to expand and
localize production of automotive rubber components.
According to the EBRD, the loan will support the company’s
development program, including the expansion of its manufacturing
facilities and the introduction of new production equipment.
The investment will help Auto Rubber diversify its product
portfolio by establishing production lines for semi-finished
products and rubber compounds, strengthening its capacity to
manufacture automotive components locally.
Moreover, the project is expected to support the development of
Uzbekistan’s automotive supply chain by increasing domestic
production of components and reducing reliance on imported
intermediate materials.
In addition to financing, the EBRD will assist Auto Rubber in
strengthening its corporate governance and promoting gender
equality through the development and adoption of formal internal
policies.
The project will receive grant support from the Japan-EBRD
Cooperation Fund, according to the Development Bank.
Auto Rubber is an Uzbekistan-based manufacturer specializing in
automotive rubber sealing systems and other technical rubber
components used in the automotive industry.
The EBRD has invested nearly $7.3 billion in Uzbekistan through
219 projects to date, with most of its financing directed toward
supporting private-sector businesses and entrepreneurship.
