Eurasian Development Bank Takes Major Step Into Digital Economy with $70 Million Deal

EDB Expands Into the Digital Economy with Uzum

The Eurasian Development Bank (EDB) has made a notable move into the digital economy by signing a $70 million investment loan agreement with Uzum, Uzbekistan's largest digital ecosystem. This strategic partnership aims to accelerate Uzum’s fintech operations, marking a significant step in transforming Uzbekistan’s financial landscape.

In a ceremony held for the official opening of EDB’s representative office in Tashkent on May 19, 2026, this agreement was signed, indicating EDB's first investment in Uzbekistan since it joined the organization. The agreement signifies EDB's commitment to fostering digital infrastructure development and evolving its investment strategy to encompass digital platforms.

Uzum is already a leading player in Uzbekistan’s rapidly growing digital finance market, which has garnered significant attention due to the swift adoption of cashless payments and the surge of digital financial services among a youthful population. The funds from EDB will play a crucial role in bolstering Uzum’s growth, making digital payment solutions and financial services more accessible to consumers and small businesses across the nation.

Nikolai Podguzov, EDB’s Chairman, emphasized the importance of digital platforms in modern economic infrastructure, stating, “By partnering with Uzum, we broaden access to financial services, enhance entrepreneurship, and invest in a technological platform that can strengthen economic connectivity across Eurasia, including China and the Middle East.” This sentiment reflects a pressing need for interconnected economic systems in a globalized world.

Djasur Djumaev, Uzum’s CEO and founder, echoed this sentiment. He remarked on the integral role of fintech infrastructure in daily economic activities, noting, “This investment validates Uzum’s strategic position in developing Uzbekistan’s future economic infrastructure. It also signifies a broader trend where digital platforms become pivotal in attracting international development financing.”

Uzbekistan has emerged as one of the fastest-growing digital economies in Eurasia, driven by a surge in cashless transactions and digital services. With over 70 million bank cards currently in operation, the shift towards a digital economy is noticeable and leaves a positive trajectory for further advancements in fintech.

The Eurasian Development Bank, a multilateral development institution, has played a vital role in fostering economic ties and supporting comprehensive development within its member states for over 20 years. At the end of December 2025, the EDB had a cumulative portfolio amounting to 326 projects, with a total investment of $19.6 billion. The EDB focuses on projects with significant integration effects in sectors such as transport infrastructure, digital systems, green energy, agriculture, manufacturing, and engineering.

Moreover, the bank is committed to adhering to the UN’s Sustainable Development Goals and ESG principles in all its operations. Currently, EDB is implementing three megaprojects under its 2022-2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Products Distribution System, and the Central Asia Water and Energy Complex.

In a significant legislative move in April 2025, Uzbek President Shavkat Mirziyoyev ratified a law that officially integrated Uzbekistan into the Eurasian Development Bank, elevating the country to the status of the seventh member state of the bank. This incorporation emphasizes the growing partnership between Uzbekistan and the broader Eurasian community as both look towards a shared digital future.

Uzum stands out as the digital ecosystem in Uzbekistan, merging financial technology, e-commerce, and banking services for individuals and SMEs (small and medium enterprises). Its offerings encompass online marketplaces, urgent delivery services, both traditional and digital banking, BNPL services, and an automotive marketplace. With over 20 million active users monthly, Uzum is firmly positioned at the heart of Uzbekistan's digital transformation.

This $70 million agreement not only symbolizes a significant investment in Uzbekistan's digital infrastructure but also sets the stage for the country’s ongoing evolution towards a robust, integrated, digital economic framework. With a growing young population and rapidly evolving technology, the potential for future growth in Uzbekistan’s fintech sector is substantial, and partnerships like these will undoubtedly play a pivotal role in its success.