EDB Makes Historic Move into Digital Economy with $70 Million Investment in Uzbekistan's Uzum

EDB Makes Historic Move into Digital Economy with Uzum

In a landmark event for Uzbekistan's digital future, the Eurasian Development Bank (EDB) has solidified its commitment to the burgeoning digital landscape by signing a $70 million investment loan agreement with Uzum, the nation's foremost digital ecosystem. This agreement marks a pivotal entrance for the EDB into Uzbekistan since the country joined the multilateral development organization, showing intent to bolster digital infrastructure and platforms critical for long-term economic growth.

The signing of the agreement took place at the official inauguration of EDB's representative office in Tashkent, symbolizing not just a financial commitment but a strategic partnership that aims to enhance Uzum's rapidly growing FinTech sector. Uzum is recognized for its swift ascent in Uzbekistan's digital finance market, thus it stands as a fitting partner for EDB as they both aim to drive forward the nation’s economy through technological integration.

Chairman of the EDB Management Board, Nikolai Podguzov, commented on the significance of this collaboration, stating, “Digital platforms are becoming a vital part of modern economic infrastructure.” He emphasized the partnership's potential to enhance financial services access, support entrepreneurship, and foster economic connectivity across Eurasia, extending outreach even to regions such as China and the Middle East.

On the other side, Djasur Djumaev, the Founder and CEO of Uzum, highlighted the vital nature of this investment: “We are building fintech infrastructure at a national scale — deeply embedded into everyday economic activity.” Djumaev pointed out that this funding also showcases a broader trend in development finance, where digital platforms are validated as essential for future growth and economic development.

With rapid advancements in cashless operations and digital financial services, coupled with a young and engaged population, Uzbekistan is positioning itself as a front-runner among emerging digital economies within the Eurasian region. Currently, more than 70 million bank cards are circulating in the country, indicating a strong foundation for further digital finance proliferation.

The EDB has a commendable track record of investing in projects that drive economic integration and transformation across its member countries. With over 326 projects worth $19.6 billion in investments, the organization focuses on key areas such as transport infrastructure, digital systems, and agricultural development. The addition of Uzbekistan as its seventh member in December 2025 has further widened the EDB’s scope of operations, prompting this strategic investment in the digital sector.

The collaboration with Uzum signifies EDB's intent to shift towards supporting digital platforms that contribute to a vibrant economy. With this partnership, the EDB is not only investing in Uzum's fintech ventures but is also playing a critical role in shaping the financial landscape of Uzbekistan, making it more accessible and user-friendly for both consumers and small businesses.

Uzum has made significant strides in revolutionizing financial services within the country. It boasts an expansive digital ecosystem that encompasses fintech, e-commerce, and banking services targeting both individuals and enterprises. Its diverse offerings include a marketplace, express delivery, traditional and digital banking services, as well as Buy Now Pay Later (BNPL) options. The platform currently serves over 20 million users each month, a testament to its widespread acceptance and effectiveness in meeting the needs of Uzbek consumers.

As Uzbekistan prepares for a future entrenched in digital innovation, this historic investment from the EDB promises a transformative impact on the nation's economic landscape, fostering entrepreneurship and ultimately serving as a catalyst for comprehensive development amidst the dynamic digital economy.