Loan of up to US$ 10 million (€8.8 million) to finance Auto Rubber’s development programmeEBRD to help Auto Rubber strengthen its corporate governance and advance gender equalityProject supported by the Japan-EBRD Cooperation FundThe European Bank for Reconstruction and Development (EBRD) is helping to strengthen privately owned businesses in Uzbekistan by financing the expansion of a producer of automotive rubber products, Auto Rubber. The Bank is extending a loan of up to US$ 10 million (€8.8 million) to Auto Rubber, an established domestic manufacturer of automotive rubber sealing systems and other technical rubber components. The loan will finance the company’s development programme, as well as the expansion and localisation of its production facilities.The project will help to transform Auto Rubber into a diversified automotive component manufacturer by financing the installation of new equipment for the manufacture of semi-finished products, as well as a rubber-compound production line.The EBRD will support Auto Rubber in strengthening its corporate governance and advancing gender equality by helping it to adopt formal internal policies.The project is supported by grant funding from the Japan-EBRD Cooperation Fund.The EBRD has invested almost US$ 7.3 billion (€6.5 billion) in Uzbekistan to date through 219 projects, with most of those funds going to support private entrepreneurship.  (ICE ALMATY)

Fonte notizia: EBRD