Following this announcement, the funding round will be leveraged in order to help TBC Uzbekistan continue diversifying its funding base, as well as expanding financial inclusion in Central Asia’s largest nation by population. In addition, this brings the total wholesale funds secured by TBC Bank Uzbekistan in 2024 to USD 105 million.
The financing will come from GGSF via one of its portfolio managers, Triple Jump, who is currently managing the origination and relationship with TBC UZ. The GGSF is set to address the estimated USD 1.7 trillion gender gap in access to financial services globally by unlocking responsible financial services for underserved women, women-owned, and women-led businesses in several developing markets.
TBC Uzbekistan represents a digital banking ecosystem in Central Asia and is part of the London-listed TBC Bank Group. The institution provides its customers and partners with a purpose-built tech stack, an experienced international team, and an improved consumer product strategy.
According to the official press release, the funds are expected to be used to further expand TBC UZ’s efforts to provide loans to women and women-led businesses, in line with the company’s mission to make people’s lives easier by ensuring equal access to optimised and secure digital financial services.
At the same time, TBC Bank Uzbekistan will prioritise its strategy of providing responsible and innovative digital banking solutions to customers in the region of Uzbekistan, as well as the overall development of the local financial landscape. The financial institution will also continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
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