TBC UZ announces $10 Million Funding from Global Gender-Smart Fund

In a recent announcement, TBC Bank Uzbekistan (TBC UZ) has revealed that it has secured a total of $10 million from Global Gender-Smart Fund (GGSF). The bank is the largest mobile-only bank in the country. This milestone shall be helping TBC Uzbekistan to continue diversifying its funding base.

Its is also aiding in expanding financial inclusion in the largest nation of Central Asia by population. GGSF will be giving the financing through Triple Jump which is one its portfolio managers, managing the origination and relationship with TBC UZ. The funds shall be utilized for further expansion of the efforts of TBC UZ for providing loans to women and women-led businesses.

Additionally, TBC Group operations in Uzbekistan’s CEO Nika Kurdiani said, “We are delighted to secure new financing and bring on board another valued partner in Triple Jump as we continue to diversify our funding base and expand the range of products we offer. We share Triple Jump’s vision of making an impact by expanding financial inclusion in developing markets like Uzbekistan and ensuring that easy-to-use, digital banking products are available to all”.

Adding to the statement, Triple Jump Director Financial Institutions Jarri Jung stated, “We are thrilled to partner with TBC Bank Uzbekistan and support the digital bank’s important efforts to bring responsible and innovative digital banking to consumers in Uzbekistan, focusing on ensuring financial inclusion of women and women-led businesses in the country. We hope that the Global Gender-Smart Fund investment which we are facilitating will make a tangible difference, improving women’s access to financial resources and helping fuel wider economic growth in the country”.