Armenian Evocabank secures $7mn investment

By bne IntelliNews November 29, 2023

Armenian Evocabank has partnered with the Swiss investment group, responsAbility, to secure $7mn.

The funds will benefit micro, small and medium-sized businesses (MSMEs) in Armenia, in accordance with their cooperation agreement.

As of 30th September 2023, Evocabank's SME loan portfolio is worth around AMD59bn, indicating a 34% rise from the previous year's end. MSMEs lay the groundwork for the economy, particularly in developing nations. They foster a thriving business atmosphere and generate additional employment opportunities.

Evocabank continuously cooperates with international organisations, creating favorable development conditions for MSMEs," the bank's message says.

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