Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) will provide a loan of up to €20 million to the joint venture "ARTIKUL AZIYA KABEL" (AAK), one of the leading producers of copper cables and wire products in Uzbekistan.

The financing aims to support the private sector and the development of local manufacturing of components needed for the modernization of power grids and the implementation of renewable energy sources.

The loan will enable AAK to increase production of copper cables, expand exports, including specialized products such as cables for solar generation. This will strengthen the company's position as one of the key suppliers of cable and wire products in Central Asia and help realize its long-term ambitions to enter EU markets.

The project will also contribute to the implementation of Uzbekistan's national strategy "Uzbekistan-2030", which aims to triple domestic copper production. Expanding AAK’s product range will help reduce imports, support growth in the construction sector, and improve the reliability of the country’s power grids.

As part of its cooperation with the EBRD, the company will develop training programs in collaboration with local educational institutions and implement best international practices in efficiency and corporate governance. AAK plans to meet European safety and quality standards in the electrical engineering industry (VDE).

Uzbekistan remains the largest recipient of EBRD investments in Central Asia — over the past five years, the bank has invested more than €5.5 billion in the country through 174 projects, with a primary focus on developing private entrepreneurship.