Zurich-based impact investor BlueOrchard Finance has provided US$20 million in debt financing to TBC Bank Uzbekistan (TBC UZ), the country’s largest digital bank.
This latest investment increases BlueOrchard’s total funding commitment to TBC UZ to US$45 million, following an initial US$25 million agreement signed in August 2024.
The funds will support the bank’s lending expansion, with a particular focus on SMEs in Uzbekistan.
Philipp Mueller, CEO of BlueOrchard, said:
“We are looking forward to deepening our relationship with TBC, whose mission to expand financial inclusion in Uzbekistan closely aligns with our values. We are confident that this additional funding will enable TBC UZ to further drive economic growth for entrepreneurs and small businesses in the region.”
Nika Kurdiani, CEO of TBC Uzbekistan, commented:
“We are delighted to strengthen our partnership with BlueOrchard and secure additional funding as we prepare to launch our SME lending services. This agreement will help diversify our funding base and provide Uzbekistan’s SMEs with greater access to financing.”
TBC UZ is part of TBC Uzbekistan, a digital financial ecosystem that includes the payments app Payme and the instalment credit business Payme Nasiya.
TBC Uzbekistan is a subsidiary of London-listed TBC Bank Group PLC.
Featured image credit: edited from freepik
