Financed ProjectsEvocabank TF Facility

Identification Code:

OP/24/0027

Total Operation Cost:

1.000.000

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

Evocabank TF Facility

Countries of Operation:

Armenia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Short-Term Revolving Trade Finance Loan 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