“Farm Credit Armenia” Credit Cooperative and “Saving Banks Foundation for International Cooperation” Signed a Memorandum of Understanding


“Farm Credit Armenia” credit cooperative and “Saving Banks Foundation for International Cooperation” signed a Memorandum of Understanding on December 3rd, this year.

“Saving Banks Foundation for International Cooperation” (SBFIC) is a founded by the largest German savings bank group, supported by German Ministry of Economic Cooperation and Development.  SBFIC aims at promoting savings in the Republic of Armenia through raising clients’ financial awareness and protection of their interests.   

 This cooperation will allow implementing a number of trainings and exchange programs not only for FCA staff but also for its member-stockholders.

The MOU signing ceremony was attended by the Adviser to RA Prime Minister Samvel Sargsyan, Central Bank of Armenia board members Vakhtang Abrahamyan and Armenak Darbinyan, advisor to the RA Minister of Agriculture Liana Hunanyan, German-Armenian Fund director Gevorg Tumanyan, as well as representatives from local and international organizations. 

“Farm Credit Armenia” credit cooperative CEO/President Armen Gabrielyan welcomed the guests of the event, introducing to them FCA’s scope of activities and nature, mission and prospects for its development. Mr. Gabrileyan mentioned that FCA pays special attention to the cooperation with international partners, especially with German organizations which are leaders of international exchange in the cooperative field. In addition, FCA’s Deputy CEO/Chief financial officer Ani Sargsyan introduced a report on FCA’s financial indicators.  

 The German side was introduced by SBFIC South Caucasus division manager Ilonka Rühle, SBFIC Armenian team leader Veit Gesenhues, the representative from German Embassy to Armenia Annemarie Kulmann, as well as SBFIC representatives Sebastian Veit and Anna Sadoyan.

In their speeches Veit Gesenhues and Ilonka Rühle stressed that SBFIC prioritizes the expansion of cooperation with the Caucasus countries, opening new horizons for transmitting the best international experiences to the cooperative field of the region.

At the end of the ceremony a speech was delivered by the RA Central Bank board member Armenak Darbinyan, who stressing the importance of this cooperation, at the same time welcomed FCA’s efforts in obtaining new partners on international arena.

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