TBC Bank Uzbekistan has secured $10 million from the Global Gender-Smart Fund.

TBC Bank Uzbekistan (TBC UZ) has secured $10 million from the Global Gender-Smart Fund (GGSF), according to the bank's press service.

https://uzdaily.uz/ru/tbc-bank-uzbekistan-privlek-10-mln-ot-global-gender-smart-fund/2024-11-28 08:47:38

The funding has been provided by the GGSF through one of its portfolio managers, Triple Jump. The primary objective of the fund is to reduce the global gender gap in access to financial services, estimated at $1.7 trillion.

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

The funds will be directed towards developing the TBC UZ ecosystem in terms of lending to women and women entrepreneurs. This aligns with the bank's strategic mission to simplify people's lives by offering equal access to world-class digital financial services.

The CEO of TBC Uzbekistan, Nika Kuridiani, noted:
"We are pleased to secure new funding and welcome Triple Jump as one of our partners. This will enable us to continue diversifying our funding sources and expanding our product range. We share Triple Jump's commitment to enhancing financial inclusion in developing countries, including Uzbekistan, and aim to make our digital banking solutions accessible to everyone."

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

The loan from Triple Jump complements the previously secured funding for TBC UZ in 2024. Among the significant deals are a $40 million loan from FMO (Dutch Development Bank), $20 million from Swiss impact investor responsAbility Investments AG, $25 million in debt financing from BlueOrchard, and $10 million from the EBRD. Thus, the total amount of funds raised by the bank in capital markets in 2024 reached $105 million.