EDB Invests US$70 Million in Uzum Fintech

Tashkent, Uzbekistan (UzDaily.com) — The Eurasian Development Bank (EDB) will provide a US$70 million loan to the Uzum digital ecosystem to develop fintech infrastructure and expand digital financial services in Uzbekistan, officials said. The agreement was signed during the official opening of the EDB representative office in Tashkent.

The funds will be directed toward the development of consumer lending and strengthening digital banking infrastructure within the Uzum ecosystem.

The EDB said the deal marks the bank’s first investment in an IT company in Uzbekistan. The move expands the bank’s investment focus beyond traditional sectors to include digital platforms that support long-term economic development.

EDB Chairman Nikolay Podguzov said digital platforms are considered an essential component of modern infrastructure, driving productivity growth, expanding financial inclusion, and supporting regional integration.

He said financing for Uzum would help expand access for individuals and businesses to financial services, support entrepreneurship, and stimulate economic growth in Uzbekistan.

Uzum ecosystem CEO and founder Jasur Dzhumaev said the company is building a nationwide fintech infrastructure integrated into the country’s everyday economic activity.

He said the EDB funding reflects recognition of Uzum’s role in developing Uzbekistan’s digital infrastructure and aligns with a global trend in which digital platforms are becoming a key destination for international capital and development institutions.

The statement also noted that Uzbekistan is strengthening its position as one of the fastest-growing digital economies in Eurasia. More than 60 million bank cards are in circulation in the country, cashless payments are growing rapidly, and digital adoption is being driven by a young population actively using digital services.