Eurasian Development Bank lends $70M to Uzbek digital economy player Uzum
What's the deal? The Eurasian Development Bank (EDB) has signed a $70M credit agreement with Uzum, an Uzbek digital services company. The deal marks the EDB's expansion into the digital economy sector in Central Asia.
Why now? Uzbekistan's digital economy has been growing rapidly, and the country has positioned itself as a regional tech hub. The EDB's move signals growing institutional appetite for fintech and e-commerce infrastructure in Central Asian markets that have been historically underserved by development finance in the tech sector.
What could go wrong? Lending to digital economy companies in emerging markets carries risks around regulatory uncertainty, currency volatility, and the challenge of scaling tech platforms in markets with still-developing digital infrastructure. Uzbekistan's business environment, while improving, remains subject to governance concerns that could affect returns.
The signal: Development banks are increasingly looking beyond traditional infrastructure and energy projects to back digital platforms in frontier markets. The deal reflects a broader trend: as Central Asian economies diversify away from commodity dependence, fintech and e-commerce are becoming key channels for financial inclusion and economic modernisation — and multilateral lenders want in.
Read more: prnewswire.com
