Loans, Renewable Energy and Energy Saving Program

Evocabank offers beneficial loans within the framework of Armenia’s renewable energy and energy saving fund program

Loans, Renewable Energy and Energy Saving Program




  • RA resident legal entities and individual entrepreneurs
  • Analysis of financial statement of the borrower should be in line with the Bank’s requirements


In non-gasified and gasified communities:

  • renewable energy equipment
  • energy saving measures
  • acquisition, re-equipment of energy-saving equipment



  • With pledge: AMD 3,000,001-50,000,000 or equivalent foreign currency
  • Without pledge: (minimum 2 guarantees provided by physical individual or legal entity) AMD 1,000,000-3,000,000 or equivalent foreign currency

Provision  method


Repayment period

Up to 96 months

Annual nominal interest rate

AMD - 12%
USD - 8%


  • Movable and immovable property
  • Monetary funds available on deposit or current accounts
  • Standard gold bars or scrap
  • Short term bonds issued by the government or other securities
  • If needed, along with other pledge the equipments to be purchases within the framework of the program can also be pledged
  • Additional condition - Personal guarantee provided by business founders/beneficiary owners is mandatory. Meanwhile, as additional security the Bank can also request other guarantee provided by physical individual and/or legal entity

Acceptable loan to value ratio

  • For immovable property and other fixed assets: up to 70% of the property value
  • For short term bonds issued by the government: up to 95% of the nominal price
  • For other securities: up to 70% of the evaluated price
  • For standard gold bars and scrap of precious metals: up to 95% of the value
  • Monetary funds (in case of deposit and current account): up to 90%
  • For equipment to be purchased: up to 50% of the evaluated price


Upon need

Loan early repayment penalty

No penalty is applied

Penalty for loan principal and/or interest overdue

  • For overdue principal - 0,015 % daily
  • For overdue interest - 0.1% daily

Loan repayment method


Requirements for the guarantors

  • RA resident legal entity, individual entrepreneur or physical individual
  • No overdue liabilities (including for the guarantees provided)
  • No any classification of credit facilities for the last 12 months, and the sum of total overdue days should not exceed 30 days 


Not applicable

State duties and other fees

  • State duties paid to the RA government: are paid for ratification and registration of the pledge agreement
  • Valuation fee for pledged securities: according to the tariffs defined by the independent valuating companies

Additional terms

In case of refinancing of loans provided to legal entities and individual entrepreneurs, 20% co-financing is done


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