Eurasian Development Bank Invests $70 Million in Uzbekistan's Digital Economy through Uzum Partnership

EDB Expands into Uzbekistan's Digital Economy

In a significant move towards bolstering Uzbekistan's digital economy, the Eurasian Development Bank (EDB) has announced a pivotal investment loan agreement amounting to $70 million with Uzum, the foremost digital ecosystem in the nation. Uzum is recognized for its rapid growth within the fintech sector, making it a strong player in Uzbekistan's burgeoning market for digital financial services.

The agreement coincided with the grand opening of the EDB's representative office in Tashkent, marking a noteworthy step as it represents the bank's inaugural investment in Uzbekistan since the country joined the organization. This initiative reflects the EDB's strategic pivot from traditional sectors towards enhancing digital infrastructure, focusing on platform economics to spur long-term economic growth and stability in the Central Asian region.

Uzum, which has rapidly evolved into a key provider of digital financial services in Uzbekistan, aims to expand access to digital payments, consumer loans, and essential financial services for small businesses and households. The partnership is integral to fortifying Uzbekistan's fintech sector, which is swiftly becoming a cornerstone of its digital economy, propelled by the increasing adoption of cashless payment methods and a young, digitally savvy population.

Nikolai Podguzov, Chairman of the EDB Management Board, emphasized the importance of digital platforms in modern economic infrastructures. He stated, "By partnering with Uzum, the EDB not only enhances access to financial services but also fuels entrepreneurship and invests in a regional technology platform that can strengthen economic connections across Eurasia, including China and the Middle East."

Djasur Djumaev, the founder and CEO of Uzum, recognized this investment as a crucial acknowledgment of Uzum's role in shaping Uzbekistan's economic infrastructure for future development. He noted that it signifies a broader trend where digital platforms are increasingly recognized as vital components within development finance and international capital flows.

As Uzbekistan continues to establish itself as one of the fastest-growing digital economies in Eurasia, it is buoyed by the swift expansion of cashless transactions and digital finance services, complemented by favorable demographic trends stemming from a youth population actively engaging online. Currently, there are over 70 million bank cards circulating throughout the nation, further highlighting the scope for digital financial integration.

The EDB, a multilateral development bank committed to enhancing economic relations and fostering comprehensive development among its member states, has been operational for the past two decades. As of December 2025, its cumulative portfolio consists of 326 projects, totaling $19.6 billion in investments, primarily focusing on integration projects across transportation infrastructure, digital systems, green energy, agriculture, manufacturing, and machine engineering. Aligning its operations with the United Nations' sustainable development goals and ESG principles, the EDB is undertaking three mega-projects focusing on the development of the Eurasian transportation network, agribusiness distribution systems, and the Central Asian water and energy complex.

In conclusion, this landmark agreement not only represents significant financial backing for Uzum's fintech initiatives but also solidifies the EDB's commitment to fostering a robust digital ecosystem in Uzbekistan. As investments in digital infrastructures grow, the potential for economic transformation in the region becomes increasingly tangible, paving the way for a future centered on innovation and technological advancement.