Evocabank raised USD 7 million from responsAbility

Evocabank has signed a new international cooperation agreement with the Swiss investment organization: responsAbility.

As a result of the cooperation, Evocabank attracted USD 7 million from responsAbility.

Where will the loan funds be directed?

Loan funds will be directed to the financing of micro, small and medium-sized businesses in Armenia.

What is the role of MSMEs in the economy?

Micro, small and medium-sized businesses (MSMEs) are the basis of the economy, especially in developing countries. They stimulate the activation of the business environment and the creation of new jobs.

By the way, as of 30․09․2023, Evocabank’s MSME loan portfolio stood at about 59 billion AMD, registering a 34% increase compared to the end of 2022.

Evocabank continuously cooperates with international organizations, creating favorable development conditions for MSMEs.

About Evocabank

By being a mobile-first bank, Evocabank provides fast, simple and innovative services and is distinguished by the active use of the latest information technologies. The Bank has been named “The Best Consumer Digital Bank in Armenia” for the 7th year in a row by Global Finance prestigious financial magazine. The Bank continuously invests and implements innovations, offering clients the best solutions of the latest technologies. Evocabank is the first commercial bank registered in RA in 1990 and currently has a head office and 13 branches.

Website: evoca.am

About responsAbility Investments

responsAbility Investments AG is a leading Swiss-based impact asset manager specializing in private market investments across three investment themes to directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance and Sustainable Food. With over 200 employees collaborating across seven offices, as of 1 October 2023 the company manages USD 4.7 billion in assets across approximately 270 portfolio companies in 72 countries.

Website: responsability.com