The OPEC Fund for International Development has provided a USD 30 million syndicated loan to Evocabank. As a Tier A lender, the OPEC Fund has contributed USD 10 million of its own funds and has attracted an additional USD 20 million in Tier B financing from the European Fund for Southeast Europe (EFSE) and the Green for Growth Fund (GGF).
The financing will expand Evocabank’s lending capabilities to micro, small, and medium-sized enterprises (MSMEs) and support the promotion of climate-related investments, contributing to the strengthening of the private sector and sustainable economic growth in Armenia.
Abdulhamid Alkhalifa, President of the OPEC Fund, said, “This transaction underscores the OPEC Fund’s commitment to bringing together partners and resources to advance shared development. By providing financing to businesses and supporting climate investments, we are helping to expand economic opportunities, boost job creation, and strengthen Armenia’s sustainable growth.”
Evocabank’s Chairman of the Board, Karen Yeghiazaryan, noted, “We are pleased to strengthen our partnership with the OPEC Fund and its partners through this syndicated loan. It was a great honor for Evocabank to participate in the OPEC Fund for International Development Forum in Vienna last year, which marked the beginning of our partnership. Today, we are pleased to see that our discussions are yielding tangible results for the Armenian economy. These financial resources will enable us to expand access to finance for local businesses, stimulate innovation, and support green investments to create a sustainable future. We value the trust in Evocabank and are ready to continue joint projects for sustainable development.”
Oxana Binzaru, Regional Director of Finance in Motion, noted, “The Armenian economy is a market where long-term investments can contribute to both the green transformation of the economy and the growth of the private sector. Through EFSE and GGF, we are offering additional resources to support MSME development on the one hand and climate change adaptation on the other. This new partnership with OPEC Fund is a significant step towards expanding the scope and relevance of blended finance solutions in the region, while also contributing to the development of a new partner bank in Armenia.”
OPEC Fund for International Development has provided a USD 30 million syndicated loan to Evocabank. As a Tier A lender, OPEC Fund contributed USD 10 million of its own resources and attracted an additional USD 20 million in Tier B financing from the European Fund for Southeast Europe (EFSE) and Green for Growth Fund (GGF).
The financing will expand Evocabank’s lending capacity to micro, small, and medium-sized enterprises (MSMEs) and support the promotion of climate-related investments, contributing to the strengthening of Armenia’s private sector and sustainable economic growth.
Abdulhamid Alkhalifa, President of the OPEC Fund, said, “This transaction underscores the OPEC Fund’s commitment to bringing together partners and resources to drive shared development. By providing financing to businesses and supporting climate investments, we are helping to expand economic opportunities, boost job creation, and strengthen Armenia’s sustainable growth.”
Karen Yeghiazaryan, Chairman of the Board of Directors of Evocabank, said, “We are pleased to strengthen our partnership with the OPEC Fund and its partners through this syndicated loan. Evocabank was honored to participate in the OPEC Fund for International Development Forum in Vienna last year, which marked the beginning of our partnership. Today, we are pleased to see that our discussions are yielding tangible results for the Armenian economy. These financings will expand access to finance for local businesses, foster innovation, and support green investments to create a sustainable future. We value Evocabank’s trust and look forward to continuing our joint projects for sustainable development.”
Oxana Binzaru, Regional Director of Finance in Motion, said, “The Armenian economy is a market where long-term investments can contribute to both the green transformation of the economy and the growth of the private sector. Through EFSE and GGF, we offer additional resources to support, on the one hand, MSME development and, on the other, the adaptation of the economy to climate change. This new partnership with the OPEC Fund is a significant step towards expanding the scope and relevance of blended finance solutions in the region, while contributing to the development of a new partner bank in Armenia.”
