Evocabank to Raise $5.5 million subordinated debt from responsAbility
The funds raised from responsAbility will be directed to the financing of women-led MSMEs.
Evocabank has raised subordinated debt of USD 5,500,000 from responsAbility, which, by strengthening the Bank’s capital buffers, will significantly enhance its capacity to finance the SME sector, thereby contributing to a more dynamic business environment and economic progress. These funds will be directed to financing of Armenian micro-, small, and medium-sized enterprises (MSME) led by women.
Karen Yeghiazaryan, chairman of the Management Board of Evocabank, said:
«This collaboration is an important step towards the advancement of women-led entrepreneurship and the creation of new opportunities for businesses in Armenia. We are convinced that the support to women-led enterprises will enhance the overall economic growth in Armenia, create new jobs, and foster a business environment”.
The collaboration between responsAbility and Evocabank started in 2023, covering several projects with USD 7 million raised by the Bank in 2023 and USD 9 million in 2024. As a result, the Bank had a significant impact on MSME advancement. However, it is the first time that the Bank has raised subordinated debt from international financial institutions.
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. To date, responsAbility manages around USD 5.5 billion in assets across approximately 300 portfolio companies worldwide.
As a mobile-first bank, Evocabank provides fast, simple, and innovative services and is distinguished by the active use of cutting-edge information technology. The Bank keeps introducing innovative solutions, offering its clients the benefits of advanced technology. Evocabank is the first commercial bank registered in RA.