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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Armenia's Unibank issues dram and dollar bonds with 9.75% and 5% yields

Unibank has launched bonds in both Armenian dram and US dollars, offering annual yields of 9.75% and 5%, respectively. The volume of dram-denominated bonds is AMD 2 billion, while the ... more

Putin points to “win, win” benefits that would stem from Uzbekistan joining EEU

Russian President Vladimir Putin on his May 26-27 visit to Tashkent stressed potential mutual gains that would stem from Uzbekistan joining the Moscow-led Eurasian Economic Union (EEU), but also ... more

The acquisition of Armenia's Ameriabank by BOGG PLC complete

BOGG PLC, an international financial group based in the UK, has finalized a deal acquiring a 90% stake in Ameriabank, a leading financial institution in Armenia. This acquisition, valued at $303.6mn, ... more

Follow Us On

Most Read

  1. Dubai heatwave: Temperature feels like 62°C as scientists explain extreme conditions
    9 days ago
  2. Six out of nine “planetary boundaries” have been crossed and a tenth has appeared
    2 days ago
  3. How energy intensive are data centers?
    2 days ago
  4. Earth records hottest year since records began
    2 days ago
  5. Plants absorbing less carbon dioxide in 2023, accelerating global warming
    1 day ago
  1. Dubai heatwave: Temperature feels like 62°C as scientists explain extreme conditions
    9 days ago
  2. Russia overtakes Japan to become the fourth largest economy in the world in PPP terms
    1 month ago
  3. Global access to energy starts to fall for the first time in a decade, says IEA
    25 days ago
  4. LONG READ: The war in Ukraine is inching towards a ceasefire as pressures mount
    19 days ago
  5. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    3 months ago

Reports

Dismiss