TASHKENT, Uzbekistan, June 21. TBC Bank Uzbekistan received a $10 million credit line from a Swiss responsAbility Investments AG investor, Trend reports.
According to TBC Bank Uzbekistan, the funds will be used to further expand TBC Uzbekistan's micro-lending activities, contributing to the continued growth of the digital bank's loan portfolio and promoting financial inclusion in Uzbekistan.
“This credit line from responsAbility is an important part of our strategy to broaden our funding base, and it will help us extend our support to more individuals and their micro enterprises, helping them grow and prosper. We remain committed to fostering financial inclusion and economic growth through innovative financial solutions as we continue to grow our lending volumes and product pipeline, helping expand the availability of accessible modern financial services across Uzbekistan,” CEO of TBC Group operations in Uzbekistan, Nika Kurdiani, said.
The credit line follows another $10 million credit line, extended by responsAbility Investments AG's Green Climate Partnership Fund (GCPF) to TBC Bank Uzbekistan earlier this year to help expand the bank’s green lending pipeline to support environmentally sustainable projects.
TBC Bank Uzbekistan is a subsidiary of London-listed TBC Group, operating via physical and digital channels in Georgia. The bank is also a part of Uzbekistan’s leading digital financial ecosystem, which also contains Payme, a digital payments app for individuals and small businesses, and Payme Nasiya (Payme Instalments), an installment credit business.