BSTDB initiated a new partnership in Armenia by providing USD 10 million financing to Evocabank. USD 9 million of the loan will be dedicated to financing small and medium-sized enterprises (SMEs), whilst USD 1 million will be aimed at trade finance operations. Hence, the BSTDB facility is designed to address the capital expenditure and working capital needs of Armenian SMEs, including those engaged in trade with other countries in the Black Sea region. Evocabank will utilize these funds to support domestic SMEs, helping them implement their investment programs, expand into new markets, and strengthen their competitiveness and export capabilities.

As a new partner for BSTDB in Armenia, Evocabank’s advanced digital channels and extensive branch network will play a crucial role in delivering support to a diverse range of SMEs across Armenia. This collaboration expands the BSTDB network of partner financial intermediaries and opens new opportunities for Armenian companies to engage in crossborder trade and foster stronger economic ties within the region, in line with BSTDB’s mandate to promote intra-regional cooperation.