“Farm Credit Armenia” UCO CC has signed an agreement with German-Armenian fund on March 31th, 2014 and became a participant of the Agro Lending Project of German KfW development bank. Initially five commercial banks have participated in the project, and FCA is the only non bank financial institution that is allowed to participate in the program. Due diligence process has started in September and was finalized after 7 month.
FCA has an extensive experience in agro lending and is successfully participating in different lending projects, such as “Water to market” project of MCA, ASME lending project of World Bank and Rural lending project of IFAD. This agreement with German-Armenian fund will allow further enlarging the cooperative’s lending capacity. The rural residents of Armenia will strongly benefit from the program, as it encourages financing of investment loans.
The German-Armenian fund is implementing the projects of "KfW Bankengruppe" (Germany), "The World Bank" and "The Government of Republic of Armenia" for financing SMEs, housing market, renewable energy, agricultural finance, as well as "Economy Stabilization Lending" (RA Government).