Evocabank and IFC announce a $10M loan for Armenian MSMEs, with funding for nature projects, job creation, and sustainable resource use.
Evocabank has secured USD 10 million in financing from the International Finance Corporation (IFC), a member of the World Bank Group, to expand MSME lending, marking an important milestone in the development of sustainable finance in Armenia. Part of the financing will be directed towards eligible nature-focused projects. IFC is also providing advisory support to help Evocabank identify and finance businesses and projects that contribute to nature conservation and the sustainable use of natural resources.
This represents IFC’s first dedicated nature-related financing in the Europe region, creating new opportunities to support businesses that contribute to nature conservation and the sustainable use of natural resources. The transaction expands the scope of sustainable finance by integrating nature-related considerations more directly into lending activities and encouraging investments that generate positive environmental outcomes alongside economic value.
Unlike more general green financing, which often focuses on renewable energy and energy efficiency, nature finance directs capital towards activities that contribute to the conservation of nature and the sustainable use of natural resources. This emerging area of sustainable finance offers new opportunities for businesses to incorporate nature conservation into their investment decisions.
Karen Yeghiazaryan, Chairman of the Management Board of Evocabank, mentioned: “At Evocabank, we believe that the role of a modern financial institution goes beyond providing financing - it also means directing capital towards activities that create long-term value for the economy and the environment. Our partnership with IFC marks an important milestone in this journey, as we introduce the first dedicated nature financing deal in the Europe region. With this facility, we aim to support businesses that contribute to nature conservation and the sustainable use of natural resources. We see this as an opportunity to expand the boundaries of sustainable finance in Armenia and demonstrate that economic development and the protection of nature can go hand in hand.”
Wiebke Schloemer, IFC's Director for the Western Balkans and South Caucasus, said: "Small businesses drive Armenia's growth, innovation, and employment, yet many face challenges in getting the funding they need. Our investment in Evocabank, which includes a nature-related component, aims to ease access to finance for small businesses, including those that invest in nature-friendly practices. This will help them grow and create jobs while protecting the natural resources that agricultural productivity, livelihoods, and communities depend on."
Evocabank is one of Armenia’s leading commercial banks, providing a broad range of banking products and financial services to individuals, entrepreneurs, and businesses. The Bank places a strong focus on supporting micro, small, and medium-sized enterprises (MSMEs), promoting sustainable business growth and expanding access to finance. Through partnerships with international financial institutions and development finance funds, Evocabank continues to strengthen its capacity to provide financing that contributes to the development of Armenia’s private sector and economy.
For more information about IFC, please visit: www.ifc.org
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