The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $10mn (€9.1mn) to TBC Bank Uzbekistan (TBC UZ) to support the growth of micro and youth-led businesses, as well as women entrepreneurs across Uzbekistan.

The senior loan, which will be disbursed in synthetic Uzbek som, is aimed at empowering the country’s burgeoning entrepreneurial sector. 

At least 65% of the funding is earmarked for microbusinesses owned or led by young entrepreneurs, which is particularly pertinent in a country where nearly 30% of the population is under the age of 30.

Furthermore, the loan structure ensures that at least 40% of the funds will be on-lent to women, further promoting gender equality in business.

TBC UZ, a subsidiary of TBC Bank Group PLC—the leading banking group in Georgia—has become a key player in Uzbekistan’s digital banking transformation.

Since its launch, TBC UZ has positioned itself as one of the first digital financial institutions in the country, offering a wide range of online services, including money transfers, loans, deposits, instalments, bank cards,and bill payments. 

This digital-first approach aligns with the government's broader goals of accelerating financial inclusion and digitalisation in the banking sector.

Since becoming a shareholder of TBC UZ in 2021, the EBRD has been actively supporting the bank’s mission to expand its services and foster financial access for underserved groups. 

Uzbekistan has been the leading recipient of EBRD funding in Central Asia for the past four years. To date, the development bank has invested approximately €4.95bn in 167 projects across the country, with a significant portion dedicated to supporting private entrepreneurship.

TBC UZ recently launched a high-tech in-house processing centre to improve payment processing and accelerate innovation in financial products. 

The digital bank holds a BB- rating from Fitch Ratings, matching Uzbekistan's country rating, with a "stable" outlook.