TASHKENT, Uzbekistan, November 28. TBC Bank Uzbekistan (Uzbekistan’s leading mobile-only bank) has secured $10 million from the Global Gender-Smart Fund (GGSF), the bank told Trend.
This strategic move will empower the bank to optimize its funding portfolio and drive its vision of enhancing financial inclusion in Uzbekistan.
Triple Jump, one of GGSF's portfolio managers, will manage the funding, which aims to address the estimated $1.7 trillion global gender gap in access to financial services. The investment specifically aims to offer financial services to underserved women, women-owned, and women-led businesses in developing markets.
The loan will enable TBC Bank Uzbekistan to expand its lending offerings to women and women-led businesses, aligning with the bank’s commitment to making financial services accessible to all. The bank’s goal is to ensure that everyone has equal access to world-class digital financial services.
"We are thrilled to support TBC Bank Uzbekistan’s efforts to bring responsible digital banking to consumers, particularly focusing on financial inclusion for women and women-led businesses. We believe this investment will make a significant impact by improving women’s access to financial resources and contributing to broader economic growth in Uzbekistan," Director of Financial Institutions at Triple Jump Jarri Jung said.
Earlier, the bank also secured a $40 million loan from the Dutch entrepreneurial development bank FMO, $20 million in credit lines from Swiss Impact Investor Responsibility Investments AG, $25 million in debt financing from BlueOrchard, and a $10 million loan from the European Bank for Reconstruction and Development (EBRD). With the GGSF loan, TBC Bank Uzbekistan’s total wholesale funding secured in 2024 reaches $105 million.