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