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TBC Bank Gets $10 Million to Support Female Entrepreneurs in Uzbekistan
Source: ImpactAlpha
TBC UZ offers lending, payments and other banking services via mobile phone in the country. It will use the loan from the Global Gender-Smart Fund to boost its lending to women and women-led businesses to help them expand into more lucrative sectors. The $500 million gender-focused debt fund, launched earlier this year, offers local currency loans to financial institutions for on-lending.
Blending finance for the fund are the International Finance Corp., the Austrian Development Bank OeEB, Germany’s BMZ, KfW Development Bank and private institutions. The loan to TBC UZ will come via Dutch impact investor Triple Jump, one of GGSF’s portfolio managers.
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