August 4, 2016

Within the frames of the “Support for the Agricultural Sector, Phase II” program, financed by the German KfW bank, “CARD AgroCredit” UCO CJSC and “Berkarat Jermots” LLC signed a partnership agreement for the purpose of the agricultural value chain financing.

Attending the official ceremony of signing, that took place on August 02, 2016 were the executive director of the “CARD AgroCredit” UCO Karen Petrosyan, director of the “Berkarat Jermots” LLC Varuzhan Khodedanyan, CARD Foundation director Gagik Sardaryan, the head of the Agriculture Development Programs Department of the Ministry of Agriculture of the RA Hrachya Tspnetsyan, Rural & MSME Lending Expert from Business & Finance Consulting (BFC) company, Director of the German-Armenian Foundation, the head of Darakert community, as well as farmers and representatives from the CARD Foundation,

Mr. Karen Petrosyan mentioned in his opening speech: “The program starts to be implemented in Darakert community, but we are planning to extend it to the other Farm Service Centers, functioning in different marzes of Armenia.  The program will enable “CARD AgroCredit” UCO to extend the range of its services, making them more affordable for the farmers”.

“CARD AgroCredit” UCO has been involved in the allocation of the KfW “Support for the Agricultural Sector, Phase II” program since 2014. As noted by the program technical consultant, BFC representative Dmytro Bobyrev: “This is a new level of agro-lending , with an annual interest rate starting from zero, as well as rapid and on-site decision-making process”.