BAKU, Azerbaijan, October 5. The Eurasian Development Bank (EDB) has increased its financing for Uzbekistan’s digital ecosystem Uzum from $70 million to $100 million, expanding support for the company’s fintech operations and digital financial services.
This was reflected in the statement by EDB.
The additional financing will support the further development of Uzum’s fintech business and the expansion of digital financial services for individuals and small and medium-sized businesses across Uzbekistan, according to EDB.
The original financing agreement was signed in May 2026 and marked EDB’s first investment in Uzbekistan after the country joined the development bank.
Uzum Bank was the leader in the growth of bank card issuance in Uzbekistan in 2026, while more than 50% of orders on the Uzum Market marketplace are already paid using financial services provided by the ecosystem, according to the company.
“Expanding our partnership with industry leaders reflects EDB’s plans to scale its operations in Uzbekistan. Digital platforms are a key element of economic infrastructure. By financing their growth, we are investing not only in a specific company but also in the region’s technological connectivity and access to financial services for millions of people,” said Sergey Ignatov, EDB Senior Managing Director.
Uzum founder and CEO Jasur Jumaev said the increased financing reflects the results achieved by the company in recent months and investor confidence in its strategy.
“We are building fintech infrastructure on a national scale that is used by millions of people every day. It is particularly important for us that as Uzum grows, the volume of international capital directed toward Uzbekistan’s digital economy also increases,” Jumaev said.
The financing comes as Uzbekistan’s digital economy continues to expand, supported by rising adoption of cashless payments, digital banking services and growing demand from younger consumers.
Uzum is an Uzbek digital ecosystem combining fintech, e-commerce and banking services for individuals and businesses. Its services are used by more than 20 million people in Uzbekistan each month, according to the company.
EDB is a multilateral development bank focused on investment and economic integration across Eurasia. As of the end of June 2026, its accumulated portfolio comprised 348 projects totaling $22.1 billion in investments, with major areas including transport infrastructure, digital systems, renewable energy, agriculture, industry and engineering.
Under its 2022–2026 strategy, EDB is implementing three major projects focused on Central Asia’s water and energy complex, the Eurasian transport framework and the development of Eurasian trade corridors.
