Tashkent, Uzbekistan (UzDaily.com) —  TBC Bank Uzbekistan (TBC UZ) has secured US$10 million from the Global Gender-Smart Fund (GGSF), according to the bank’s press service.

The funds will help diversify financing sources and expand access to financial services in Uzbekistan, the largest country by population in Central Asia.

The financing is provided by GGSF through one of its portfolio managers, Triple Jump. The primary goal of the fund is to close the global gender gap in access to financial services, which is estimated at US$1.7 trillion.

GGSF focuses on promoting social responsibility in the financial sector and enhancing financial inclusion for women in developing countries.

The funds will be directed toward developing TBC UZ’s ecosystem, particularly for lending to women and women entrepreneurs. This aligns with the bank’s strategic mission to simplify people’s lives by providing equal access to world-class digital financial services.

TBC Uzbekistan’s CEO, Nika Kurdiani, noted: “We are pleased to secure new funding and welcome Triple Jump as a partner. This will allow us to continue diversifying our funding sources and expanding our product range. We share Triple Jump’s commitment to increasing financial inclusion in developing countries, including Uzbekistan, and strive to make our digital banking solutions accessible to all.”

Triple Jump’s Director of Financial Institutions, Jarry Jung, emphasized: “We are delighted to collaborate with TBC Bank Uzbekistan and support their efforts to develop responsible and innovative digital banking in Uzbekistan, with a special focus on financial accessibility for women and women entrepreneurs. We are confident that our investments through the GGSF will have a positive impact, improving women’s access to financial resources and contributing to the growth of the national economy.”

This loan from Triple Jump complements other significant funding raised by TBC UZ in 2024. Major deals include a US$40 million loan from FMO (Dutch Development Bank), US$20 million from Swiss impact investor responsAbility Investments AG, US$25 million in debt financing from BlueOrchard, and US$10 million from the EBRD. As a result, the total amount raised by the bank in capital markets in 2024 has reached US$105 million.