News

On March 2012 “Farm Credit Armenia” UCO CC has been integrated into Microfinance Centre (MFC).

MFC is a grassroots network of 105 microfinance institutions from Europe and Central Asia. The mission is to contribute to poverty reduction and human potential development by promoting a socially oriented and sustainable microfinance sector that provides adequate financial and non-financial services to a large number of poor families and micro-entrepreneurs.

     “Farm Credit Armenia” UCO CC held its forth Strategic Planning Retreat in Kotayk region, “Aghveran” Hotel on February 2-4 attended by FCA entire staff and Board members.
     During the seminar the participants were afforded an opportunity to learn about the current activities and future plans of the Armenian only credit cooperative. In particular, the heads of departments presented 2011 loan portfolio data, indicators and results, 2012 working plans, loan portfolio analysis, discussion of a number of issues, various kinds of role-playing games, group discussions and business tasks.
     The other issues that were presented were: 2012-2015 strategic plans (loan portfolio, increase of assets and capital, main competitors in business environment, main strategic indicators for the upcoming 3 years).  The seminar included also exchange of opinions, SWOT analysis, the results thereof were compared with those of previous year, as well as brainstorming on various issues.
     FCA regular Board meeting was held on the second day of the seminar.

On January 12, 2012 “Congress” hotel conference-hall hosted ceremony devoted to “Farm Credit Armenia” 1000th member-borrower. More than hundred FCA member-borrowers, representatives from RA Central Bank, World Bank, RA Ministry of Agriculture, management from US Department of Agriculture, among them Marc Hawthorne, Daniela Maor, Fred Johnston, as well as head of USDA Armenian Office Gregory Boot attended the event.
    Congratulating the cooperative’s 1000th member-borrower Shushanik Martirosyan FCA Chief Executive Officer Armen Gabrielyan expressed his gratitude to all those organizations that have supported “Farm Credit Armenia” on its way to sustainable development, mainly: World Bank Armenian Office, MCA-Armenia, RA Central Bank, German-Armenian Fund and especially US Department of Agriculture for its continuous support. The CEO’s speech was followed by handling a participation certificate to FCA 1000th member-borrower.
     Speaking about the successes of FCA, RA Central Bank Board member Vakhtang Abrahamyan noted that as a regulatory body RA Central Bank welcomes the presence of suchlike organization on the market and hoped that in future FCA will continue to make great progress.
In his speech the head of USDA Armenian Office Gregory Booth expressed hope that mutually beneficial cooperation between FCA and USDA will be continuous and long-term.
     Representative from RA Ministry of Agriculture Hrachya Tspnetsyan congratulated FCA 1000th member-borrower on behalf of the ministry and highly appreciated FCA role and importance in the development of Armenian agriculture by reminding that FCA is an institution founded by Armenian farmers.  Mr. Tspnetsyan emphasized also the importance of FCA partnership with a number of international organizations.
      In his speech MCA-Armenia representative Sergey Meloyan highly appraised FCA creation by noting that it has already formed a good biography and reputation and is the first organization to introduce agricultural machinery leasing product on its own initiative within the framework of MCA-Armenia Program, and ranks the first among nine financial institutions by the number of issued loans within MCA-Armenia program. As a concluding part of the speech Mr. Meloyan handed certificate to Mr. Gabrielyan for FCA invaluable contribution to the implementation of the MCA-Armenia credit program.

      From January 9-11, 2012 “Farm Credit Armenia” UCO CC hosted trainers from the US who conducted training on corporate governance for FCA Board of Directors, among them professor at Texas A&M University Dr. John Penson and Chief Risk Officer of Opportunity International Lynn Exton. The training was organized by United States Department of Agriculture. During these three days USDA officials from the US were also the guests of the training. The latter covered the following main topics: theoratical and practical part of corporate governance, risk management, also informal open discussions, workshops and case studies were part of the organized training.
     The training was rather informative and valuable for FCA board members who will apply the acquired knowledge to their board activities.

The first conference of rural communities was held in Jermuk on October 10-11, 2011 among the participants thereof were RA President Serzh Sargsyan, RA Prime-minister Tigran Sargsyan, deputy prime-minister Armen Gevorgyan, head of World Bank Armenian Office J. Happi, more than 300 representatives of local self-governmental, regional administration, different state bodies, international organizations, etc. The conference was conducted in the framework of the events dedicated to the 15th anniversary of the local governing bodies (LGB) and was aimed at the enhancement of the rural communities’ development. The goal of the conference was to work out with the assistance of communities, government, experts, and NGOs prospects for development of the village in Armenia.

Ten task groups discussed issues on development of rural infrastructures, social and educational spheres. FCA Chief Executive Officer Armen Gabrielyan and President of “ACBA Credit Agricole Bank” Stepan Gishyan were the speakers of ‘Banking System” task group on the topic “Lending tools in rural communities”. During the active discussions the managers of the organizations made presentations on their companies’ activities, rendering services, etc.