EDB Expands Into Digital Economy With $70 Million Loan Agreement With Uzbekistan's Uzum
TASHKENT, Uzbekistan , May 19, 2026 /PRNewswire/ -- The Eurasian Development Bank (EDB) has signed a $70 million investment loan agreement with Uzum, Uzbekistan's leading largest digital ecosystem, to accelerate the expansion of Uzum's FinTech business, one of the leading and fastest-growing players in Uzbekistan's burgeoning digital finance market.
The agreement, signed during the official opening of the EDB's representative office in Tashkent, marks the Bank's first-ever investment in Uzbekistan since the country joined the organization – a strategic move by the EDB into digital infrastructure and platform economies, extending its focus from traditional sectors to digital platforms that drive long–term economic growth.
EDB financing will support the continued scaling of Uzum's fintech vertical, which is rapidly becoming a core layer of Uzbekistan's digital economy – expanding access to digital payments, consumer finance, and financial services for small businesses and households.
Nikolai Podguzov, Chairman of the EDB Management Board: "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".
Djasur Djumaev, Founder and CEO of Uzum: "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 is emerging as one of the fastest–growing digital economies in Eurasia, driven by rapid adoption of cashless payments, expanding digital financial services, and strong demographic tailwinds from a young, digitally active population. More than 70 million bank cards are currently in circulation across the country.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB's cumulative portfolio comprised 326 projects with a total investment of $19,6 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
In April 2025, the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, signed a law ratifying the country's accession to the Agreement Establishing the Eurasian Development Bank, making Uzbekistan the Bank's seventh member state.
Uzum is Uzbekistan's digital ecosystem that integrates fintech, e-commerce, and banking services for individuals as well as for small and medium-sized enterprises. Its services include a marketplace, express delivery, traditional and digital banking, a BNPL service, and a car marketplace. Over 20 million people across Uzbekistan use Uzum's services every month.
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