Evocabank has raised subordinated debt of USD 5,500,000 from responsAbility, which, by strengthening the Bank’s capital buffers, will significantly enhance its capacity to finance the SME sector, thereby contributing to a more dynamic business environment and economic progress. These funds will be directed to financing of Armenian micro-, small, and medium-sized enterprises (MSME) led by women.
Karen Yeghiazaryan, chairman of the Management Board of Evocabank, said: «This collaboration is an important step towards the advancement of women-led entrepreneurship and the creation of new opportunities for businesses in Armenia. We
are convinced that the support to women-led enterprises will enhance the overall economic growth in Armenia, create new jobs, and foster a business environment”.
The collaboration between responsAbility and Evocabank started in 2023, covering several projects with USD 7 million raised by the Bank in 2023 and USD 9 million in 2024. As a result, the Bank had a significant impact on MSME advancement. However, it is the first time that the Bank has raised subordinated debt from international financial institutions.
About responsAbility
responsAbility Investments AG is a leading Swiss-based impact asset manager specializing in private market investments across three investment themes to directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance and Sustainable Food. To date, responsAbility manages around USD 5.5 billion in assets across approximately 300 portfolio companies worldwide. Website: responsability.com.
About Evocabank
As a mobile-first bank, Evocabank provides fast, simple, and innovative services and is distinguished by the active use of cutting-edge information technology. The Bank keeps introducing innovative solutions, offering its clients the benefits of advanced technology. Evocabank is the first commercial bank registered in RA. Website: evoca.am.
