Demonstrating progrmattic assigns to env vars in a script that can be sourced.

env.sh

#!/bin/bash

VARNAMES=(FRED BOB)
VARVALS=('foo' 'bar')


index=0;

for name in ${VARNAMES[@]}; do
  echo $index
  echo $name
  val=${VARVALS[$index]}

  echo $val


  export $name=$val

  index=$((index + 1))
done

env | grep FRED

source env.sh creates two new env vars in your bash context.