 |
Tashkent, UzbekistanMay 20, 2026 /PRNewswire/ — The Eurasian Development Bank (EDB) has signed a $70 million investment loan agreement with Uzum, Uzbekistan’s leading digital ecosystem, to accelerate the expansion of Uzum’s fintech business. Uzum is one of the leading and fastest-growing players in Uzbekistan’s burgeoning digital financial market.
The agreement, signed during the official opening of the EDB’s representative office in Tashkent, marks the bank’s first investment in the country since Uzbekistan joined the organization. This is a strategic move by the EDB into the digital infrastructure and platform economy, signaling a shift in its business focus from traditional sectors to digital platforms that drive long-term economic growth.
The EDB’s financing will support the continued development of Uzum’s fintech business, which is rapidly becoming a core component of Uzbekistan’s digital economy, expanding access to digital payments, consumer finance, and financial services for small businesses and households.
Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank, said: “Digital platforms are becoming an essential part of modern economic infrastructure. By partnering with Uzum, the EDB is expanding the reach of financial services, fostering entrepreneurship, and investing in regional technology platforms that strengthen economic connectivity across Eurasia, including with China and the Middle East.”
Djasur Djumaev, Founder and CEO of Uzum, said: “We are building national-level fintech infrastructure that is deeply integrated into everyday economic activities. Uzum plays a significant role in shaping the future of infrastructure development in Uzbekistan, and this investment is a key recognition of that. It also reflects a broader trend: digital platforms are increasingly becoming a focal point for development finance and international capital.”
Uzbekistan is emerging as one of the fastest-growing digital economies in Eurasia, driven by the rapid adoption of cashless payments, the ongoing development of digital financial services, and strong momentum from a young, digitally active population. The country currently has over 70 million bank cards in circulation.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the bank has worked to strengthen and expand economic ties between its member states and promote their comprehensive development. As of the end of December 2025, the EDB’s cumulative investment portfolio included 326 projects with a total investment of $19.6 billion. Its portfolio primarily focuses on projects with integration effects in areas such as transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The bank operates in line with the UN Sustainable Development Goals and ESG principles. Based on its 2022-2026 strategy, the EDB is advancing three major projects: the Eurasian Transport Network, the Eurasian Agricultural Products Distribution System, and the Central Asian Water and Energy Complex.
In April 2025, President of the Republic of Uzbekistan Shavkat Mirziyoyev signed a law approving the country’s accession to the Agreement Establishing the Eurasian Development Bank, making Uzbekistan the seventh member state of the bank.
Uzum is a digital ecosystem in Uzbekistan that integrates fintech, e-commerce, and various banking services for individual users and small and medium-sized enterprises. Its services include an e-commerce platform, express delivery, traditional and digital banking, buy now, pay later services, and an automotive trading platform. Over 20 million people in Uzbekistan use Uzum’s services each month.