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.
