Post by : Badri Ariffin

Armenia’s private sector is set for a significant boost as the OPEC Fund for International Development has orchestrated a $30 million syndicated loan facility for Evocabank. This partnership is aimed at strengthening micro, small, and medium-sized enterprises (MSMEs) while supporting climate-focused projects across the country.

The OPEC Fund itself is contributing $10 million as the primary lender, while mobilizing an additional $20 million through partner institutions, including the European Fund for Southeast Europe (EFSE) and the Green for Growth Fund (GGF). This collaborative financing approach underscores the growing role of international institutions in accelerating economic development and sustainable investment in Armenia.

With this new facility, Evocabank is expected to expand its lending capacity, enabling MSMEs to access critical funding for business growth and innovation. The loan also emphasizes support for climate-related investments, aligning financial development with environmental sustainability goals.

The move comes at a time when Armenia’s entrepreneurial sector is seeking additional resources to scale operations and foster employment opportunities. By combining private-sector financing with targeted development funds, the OPEC Fund and its partners are paving the way for stronger economic resilience.

Industry observers note that such multi-partner funding models not only provide immediate financial support but also enhance investor confidence, encouraging long-term investment in local businesses. This initiative positions Armenia as an attractive destination for development-focused finance while reinforcing the private sector’s role in sustainable economic growth.

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