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TBC Bank Uzbekistan Secures $12.5M from Triple Jump
- TBC Bank Uzbekistan has secured $12.5 million in financing from Dutch impact investment firm Triple Jump.
- The funding aims to diversify TBC Bank Uzbekistan's funding base and enhance financial inclusion in Uzbekistan, especially through the introduction of a new SME lending product.
- The financing consists of $5 million from the Global Gender-Smart Fund and $7.5 million from Triple Jump’s ASN Microkredietpool Fund, focusing on supporting financial services in emerging markets, with an emphasis on women-owned or led businesses.
- The capital injection will enable TBC Bank Uzbekistan to expand lending to underserved communities, particularly improving access to finance for women and women-led enterprises.
- Nika Kurdiani, CEO of TBC Uzbekistan, highlighted the importance and impact of the funding on SME lending, aiming to enhance access to financial services and promote economic growth in Uzbekistan.
- Jarri Jung, Director of Financial Institutions at Triple Jump, expressed optimism that the investment will bolster TBC Bank Uzbekistan's efforts in financial inclusion and expanding access.
- This financing brings Triple Jump's total commitment to TBC Bank Uzbekistan to $22.5 million, with previous investments totaling $45 million from various entities.
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