OPEC Fund contributes $10 million to a syndicated loan to a bank "Evoca" Armenian
Vienna, October 23 / WAM / The OPEC Fund for International Development (OPEC Fund) contributed to a joint loan facility worth $30 million for Evoca Bank in Armenia, to which it contributes $10 million from its own resources, with the aim of enhancing access to financing for local companies and green projects in Armenia.
Dr. Abdul Hamid Al Khalifa, Director General of the OPEC Fund – which is based in the Austrian capital, Vienna – stressed that “the deal highlights the ability of the OPEC Fund to mobilize and bring together partners and resources to enhance the impact of sustainable development.”
He explained that the joint loan represents an important achievement for the OPEC Fund’s efforts to mobilize external resources with the aim of supporting development in partner countries, noting that providing financing to companies and supporting climate investments contribute to providing economic opportunities, creating job opportunities, and promoting sustainable growth in Armenia.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and
