📋 Tender Overview
Identification Code:
OP/24/0019
Total Operation Cost:
9.000.000
Maturity:
36 months
Operation Status:
BSTDB Approved Amount
9.000.000 USD
Approval Date
19 Sep 2024
BSTDB Signed Amount
9.000.000 USD
Signed Date
22 Oct 2024
Status:
Active
Description and Purpose of the Operation:
Evocabank
Countries of Operation:
Armenia (100,00 %)
Financial Product:
SME's
Sector:
Financial Institutions
Domain:
Private
Borrower/Client:
Term Loan for SME Financing to Evocabank
Co-Financiers/Participants:
n/a
Guarantors/Sponsors:
n/a
Developmental and Regional Cooperation Impact:
The operation involves the provision of an SME loan and trade finance credit facility to a medium-sized Armenian commercial bank. The operation is expected to have modest but favorable economic benefits for the Armenian economy, the most relevant being additional tax revenue gains from increased economic activity under the additional amount provided. Also, the additional amount provided will help further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy.
Environmental Classification and Impact (summary):
The Environmental and Social Due Diligence (ESDD) of the Borrower concludes that it meets the BSTDB’s E&S requirements of Financial Intermediaries. Namely, Evocabank has a functioning E&S Management System (ESMS) that is fully integrated in the portfolio management across the Bank and subsidiaries. The main governing corporate document in this respect is the Environmental and Social Management Procedure that aims at ensuring compliance of all its banking activities with national E&S law and regulations and own E&S standards.
Operation Leader:
Financial Institutions II
E-mail:
fi2@bstdb.org
