TBC Bank Uzbekistan has secured a new loan from the Global Gender-Smart Fund. This was reported by the press service of the neobank.
The funds are allocated to expand lending for women, including women entrepreneurs, within the TBC UZ ecosystem. A loan of $10 million will be provided through one of the fund's portfolio managers, Triple Jump.
The Global Gender-Smart Fund is dedicated to promoting financial inclusion for women in developing countries. The fund's goal is to reduce the gender gap in access to financial services.
“We hope that our investments through the GGSF will bring tangible benefits by improving women's access to financial resources and contributing to the further growth of the national economy,” said Jari Jung, director of financial institutions at Triple Jump.
In turn, the CEO of TBC UZ, Nika Kuridiani, emphasized the importance of the loan from GGSF for diversifying funding sources. The funds will assist the neobank in expanding its product line and enhancing the accessibility of digital banking, he added.
Since the beginning of the year, TBC UZ has received $20 million from the Swiss fund responsAbility Investments AG, $25 million from BlueOrchard, and attracted $10 million from the EBRD. An additional $40 million was provided by the Dutch Development Bank (FMO).
Earlier, Spot reported that TBC Bank Uzbekistan increased its profit by 97% since the beginning of the year.