PROJECT

Projects

Summary of Investment Information

Project Number

46617

Company Name

EVOCABANK OPEN JOINT STOCK COMPANY

Date SPI Disclosed

Jul 22, 2022

Country

Armenia

Region

Europe

Projected Board Date

Aug 12, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 20, 2023

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Jul 31, 2022
Signed : Sep 9, 2022
Invested : May 18, 2023

Sector

Commercial Banking - SME Finance

Project Description

 The proposed IFC investment is a three-year senior loan of up to US$15 million to Evocabank (the “Bank”) to support its lending to micro, small and medium enterprises (“MSMEs”) (the “Project”).

Associated Advisory Engagement

 IFC’s advisory services to support Evocabank’s enhancement of its credit risk management is considered in conjunction with the IFC loan.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation