TBC Uzbekistan secures $20m from BlueOrchard to expand SME lending

By Gloria Methri

TBC Bank Uzbekistan (TBC UZ) has secured $20 million in debt financing from a fund managed by Switzerland-based impact investor BlueOrchard Finance Ltd (BlueOrchard).

With this new agreement, total funding from BlueOrchard-managed funds to TBC UZ now stands at $45 million, building on an initial $25 million deal signed in August 2024.

The funds will be used to expand TBC UZ’s lending initiatives and strengthen financial inclusion in Uzbekistan, particularly by enhancing the digital bank’s offerings for small and medium-sized enterprises (SMEs).

Nika Kurdiani, CEO of TBC Uzbekistan, said, “We are delighted to have the opportunity to strengthen our relationship with BlueOrchard – a truly valued partner –  and secure additional funding at a time when we are gearing up to launch our lending offering for SMEs. The new agreement will allow us to diversify our funding base further, helping us to provide Uzbekistan’s SMEs with quick and easy access to the loans they need to continue to develop and drive economic growth in the country.”

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 drive further economic growth for entrepreneurs and small businesses in the region.”

TBC UZ is part of TBC Uzbekistan, a digital financial ecosystem in Central Asia that also includes Payme, a digital payments app for individuals and small businesses, and Payme Nasiya (Payme Instalments), an instalment credit business. TBC Uzbekistan is part of London-listed TBC Bank Group PLC.