ArmInfo. Evocabank and Proparco-AFD have signed a €20 million credit agreement aimed at supporting women's entrepreneurship and the development of renewable energy in Armenia.
Half of the credit line, €10 million, will be dedicated to financing women-led businesses, strengthening their access to formal funding sources and fostering entrepreneurial growth. This transaction meets the criteria established by the 2X Challenge, a leading international initiative of development finance institutions for gender-lens investing.
The remaining €10 million will be directed toward expanding Evocabank’s renewable energy portfolio, contributing to the implementation of clean energy projects in Armenia. Overall, the agreement is expected to sustain approximately 17,000 jobs and provide support to more than 300 micro, small, and medium-sized enterprises (MSMEs).
