Farm Credit Armenia Has Celebrated the 10th Anniversary of its Foundation

2017-09-20

On September 18th of the present year "Farm Credit Armenia" UCO CC celebrated the 10th Anniversary since its establishment. The German Ambassador in RA Mr. Matthias Kiesler, the director of the Academy of German Cooperatives Mr. Rudiger Meister, the International Department Manager of the French National Federation of Savings Banks Mr. Olivier Beaume, the Secretary General of CIBP international organization Mrs. Andrea Karner, the President of the Russian League of Credit Unions Mrs. Tatyana Ivashkina and many other international partners were present at the celebration event, as well as many member-shareholders, local partners, FCA staff and board members.
During the ceremony the guests were presented films about the 10-year activity of the cooperative and the success stories of its member-shareholders.
Farm Credit Armenia UCO CC is the only credit cooperative in Armenia and it operates excessively in the marzes of RA. The credit cooperative was founded in 2007 by 57 Armenian farmers and with the support of the US Department of Agriculture. Nowadays the cooperative has 6.800 member-shareholders. Its main products are agricultural, agribusiness and SME loans, as well as agricultural equipment leasing.
Farm Credit Armenia has an active participation in different projects realized by the German-Armenian Fund, such as the World Bank, German KfW bank, Asian Development Bank lending projects, as well as the ones organized by the RFF PIU of the Ministry of Finance of RA, such as agro lending projects of the Millenium Challenges Account and the International Fund for Agricultural Development.
The CEO/President of the cooperative is Armen Gabrielyan, and the Board Chairman is Seryozha Hayrapetyan. Today the cooperative has 85 workers.
As of 31.07.2017 the assets of Farm Credit Armenia amount to 10.7 bln AMD (22.4 mln USD), and the equity amounts to 1.4 bln AMD (2.9 mln USD). The cooperative has 10 offices and the last symbolic office was officially opened in Myasnikyan village on the 10th Anniversary day of the cooperative.

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