VIENNA, October 23, 2025: The OPEC Fund for International Development has arranged a US$30 million syndicated loan facility for Armenia’s Evocabank to strengthen financing for micro, small and medium-sized enterprises (MSMEs) and support climate-related investments in the country. The financing underscores the Fund’s efforts to advance private sector growth and sustainable development in emerging economies.
Under the agreement, the OPEC Fund is providing US$10 million from its own resources as an A-lender while mobilizing US$20 million in B-loans from the European Fund for Southeast Europe (EFSE) and the Green for Growth Fund (GGF). Both EFSE and GGF are impact investment funds managed by Finance in Motion, which also acted as the advisor for this transaction. The OPEC Fund serves as the sole bookrunner, mandated lead arranger, and facility agent.
The loan will expand Evocabank’s capacity to provide financing to Armenia’s MSMEs, which account for the majority of the country’s private sector employment, and will facilitate climate-focused lending to support environmentally responsible projects. The OPEC Fund stated that the initiative aligns with its mandate to strengthen financial inclusion, promote job creation, and accelerate the transition toward sustainable economic growth.
Facility to strengthen sustainable private sector growth
OPEC Fund President Abdulhamid Alkhalifa said the transaction demonstrates the organization’s ability to mobilize development financing through strategic partnerships. “By providing financing for businesses and supporting climate investments, we are helping to unlock economic opportunity, drive job creation, and strengthen sustainable growth in Armenia,” Alkhalifa said in a statement.
Evocabank Chief Executive Officer Karen Yeghiazaryan said the agreement will bolster the bank’s lending operations and reinforce its commitment to supporting Armenia’s economic development. “This financing enables us to expand access to finance for local businesses, foster innovation, and support green investments essential for building a sustainable future,” Yeghiazaryan said. He added that the partnership with the OPEC Fund and its co-lenders marks an important step in deepening Evocabank’s role in financing Armenia’s private sector.
Evocabank continues expanding digital and green finance
Finance in Motion Regional Director Oxana Binzaru described Armenia as a market where long-term funding can drive both private sector expansion and environmental progress. She said the EFSE and GGF bring complementary objectives to the table, with one focused on empowering small businesses and the other on enhancing climate resilience. The collaboration, she added, underscores the importance of blended finance models that combine development and commercial capital to maximize economic impact.
The OPEC Fund noted that this transaction represents its first B-loan syndication involving Finance in Motion, highlighting a new level of cooperation among international development finance institutions. The arrangement follows the Fund’s broader effort to strengthen partnerships with regional and global funds to channel capital efficiently into sustainable investment opportunities in partner countries.
Evocabank, headquartered in Yerevan, is one of Armenia’s leading financial institutions with a growing portfolio in digital banking and SME financing. The new facility is expected to increase the bank’s ability to serve clients in key economic sectors such as manufacturing, services, and renewable energy, while promoting financial inclusion and responsible lending. – By Content Syndication Services.