The Eurasian Development Bank (EDB) has signed a $70 million investment loan agreement with Uzum, Uzbekistan’s leading digital ecosystem, to accelerate the expansion of Uzum’s FinTech business, according to a press release issued by the Eurasian Development Bank in Tashkent. The agreement was signed during the official opening of the EDB’s representative office in Tashkent and marks the Bank’s first-ever investment in Uzbekistan since the country joined the organization. The move extends the Bank’s focus from traditional sectors to digital platforms. Uzum’s FinTech is described as one of the leading and fastest-growing players in Uzbekistan’s digital finance market. The deal signals a strategic step by the EDB into digital infrastructure and platform economies.
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. The EDB is a multilateral development bank investing in Eurasia and has worked for 20 years to strengthen economic ties among 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 centers on projects with an integration effect across 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.
EDB financing will support the continued scaling of Uzum’s fintech vertical, which is becoming a core layer of Uzbekistan’s digital economy. The investment will help expand access to digital payments, consumer finance, and financial services for small businesses and households. Uzbekistan is emerging as one of the fastest-growing digital economies in Eurasia, driven by rapid adoption of cashless payments and expanding digital financial services. The country also benefits from strong demographic tailwinds from a young, digitally active population. More than 70 million bank cards are currently in circulation across the country.
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”.
Djasur Djumaev, Founder and CEO of Uzum, added that the company is building fintech infrastructure at a national scale, deeply embedded into everyday economic activity. He called the investment an important recognition of Uzum’s role in shaping the infrastructure for Uzbekistan’s future development. He also described it as reflecting a broader shift in which digital platforms are becoming a key focus for development finance and international capital.
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. 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. The new agreement reinforces the Bank’s expansion into platform economies alongside its established sectoral focus.
