EDB extends $70m loan to Uzum to support Uzbek FinTech sector

By Aarav Garg

The Eurasian Development Bank has expanded its focus on digital economy infrastructure after signing a $70 million loan agreement with Uzum to support the growth of Uzbekistan’s FinTech sector.

The financing has been directed toward scaling Uzum’s financial services operations, including digital payments, consumer finance and SME-focused financial products. The deal has also marked the first investment made by the development bank in Uzbekistan since the country joined the institution, highlighting increasing regional interest in digital financial infrastructure and platform-led economic growth.

Djasur Djumaev, Founder and CEO of Uzum, said “We are building FinTech infrastructure at a national scale — deeply embedded into everyday economic activity. This investment is an important recognition of Uzum’s role in shaping the infrastructure for Uzbekistan’s future development. It also reflects a broader shift, where digital platforms are becoming a key focus for development finance and international capital”.

Uzbekistan has emerged as one of the faster-growing digital finance markets in Eurasia, supported by rising cashless payment adoption, growing smartphone penetration and a young digital-first population. More than 70 million bank cards are now reportedly in circulation across the country, creating a larger addressable market for embedded finance, lending and digital commerce platforms.

Nikolai Podguzov, Chairman of the EDB Management Board, said “Digital platforms are becoming a vital part of modern economic infrastructure. By partnering with Uzum, the EDB is expanding access to financial services, fostering entrepreneurship, and investing in a regional technology platform that can strengthen economic connectivity across Eurasia – including with China and the Middle East”.

Uzum has built its ecosystem around e-commerce, payments and financial services, mirroring broader regional trends where super apps and integrated digital platforms are becoming central distribution channels for financial products.

The agreement has also underlined growing investor focus on Central Asia’s FinTech opportunity as regulators, banks and digital platforms continue modernising payment systems and expanding access to formal financial services across the region.