The Opec Fund for International Development (the Opec Fund) has arranged a $30 million syndicated loan facility for Evocabank in Armenia.
The Opec Fund is
contributing $10 million from its own resources as an A-lender, while mobilising
an additional $20 million in B-loans from the European Fund for Southeast
Europe (EFSE) and the Green for Growth Fund (GGF).
EFSE is managed by
Finance in Motion, which acts as advisor to GGF.
The Opec Fund acted as the sole bookrunner,
mandated lead arranger and facility agent.
Abdulhamid Alkhalifa, Opec Fund President, said: “This transaction highlights the Opec Fund’s ability to bring together partners and resources to amplify development impact. 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.”
The syndication marks
an important milestone in the Opec Fund’s efforts to mobilise third-party
resources in support of development in its partner countries.
This transaction is
the first participation in an Opec Fund B-loan syndication offering for Finance
in Motion, one of the leading impact asset managers specialising in development
finance and climate funds.
Karen Yeghiazaryan,
CEO of Evocabank, said: “We are proud to deepen our cooperation with the Opec
Fund and its partners through this important syndicated loan. Last year,
Evocabank had the honour of participating in the Opec Fund Development Forum in
Vienna, which marked the beginning of our dialogue and collaboration. Today, we
are delighted to see that the discussion has turned into tangible results for
Armenia’s economy. This financing will enable us to expand access to finance
for local businesses, foster innovation, and support green investments that are
essential for building a sustainable future. We value the trust placed in
Evocabank and look forward to continuing our joint efforts to create lasting
impact.”
Oxana Binzaru,
Regional Director at Finance in Motion, stated: “Armenia is a market where
dedicated long-term funding can drive both green transformation and private
sector growth. Through EFSE and GGF, we are bringing complementary mandates to
the table—supporting MSMEs on the one hand, and climate resilience on the
other. This new partnership with the Opec Fund, for the benefit of a new
partner bank in Armenia, marks a meaningful step in expanding the reach and
relevance of blended finance solutions in the region.” -OGN/TradeArabia News Service