ACBA-Credit Agricole Bank jointly with NABU launches second program of "Certification of Organic Agricultural Products"

ArmInfo. ACBA-Credit Agricole  Bank jointly with German Nature and Biodiversity Conservation Union  (NABU) has launched today the implementation of the second project of  free "Certification of Organic Agricultural Products". The  press-service of the bank has told ArmInfo that those entrepreneurs  who wish to participate in the contest in 2016-2017 should download  application form from ,  fill it and send to [email protected]. The deadline for  submitting applications is December 1, 2016. One can call by the  following numbers for any questions:  (010) 544571 and (093) 420062.

The products presented by the participants for certification are  subject to expert evaluation. After summing up the results the  winners will be announced, to whom ACBA-Credit Agricole Bank with  financial assistance from NABU will hand Organic Agriculture  certificates. To recall the winners of the first program of free  "Certification of Organic Agricultural Products" (2015-2016), the  results of which were summed up in May, were "Mer Sarer" LLC  (production of honey), "Mega Ararat" company (gathering of  mountainous fruits and plants, production of tea), "Armberry"  (raising of raspberry) and private entrepreneur Vahagn Hakobyan  (raising of blackberry). 

The program launched in 2015 is aimed at development of organic  products market in Armenia and support of export. The program is  designed for all those small and medium enterprises, which are  interested in undergoing "Certification of Organic Agricultural  Products". 

To note, founded in 1899, Nature and Biodiversity Conservation Union  (NABU, Berlin, Germany) encompasses more than 520,000 members and  sponsors, who commit themselves to the conservation of threatened  habitats, flora and fauna, to climate protection and energy policy.  NABU`s main objectives are the preservation of habitats and  biodiversity, the promotion of sustainability in agriculture, forest  management and water supply and distribution, as well as to enhance  the significance of nature conservation in our society.  According to  the Financial Ranking of Armenian Banks prepared by ArmInfo as of  July 1, 2016 the bank is in TOP-10 by the amount of lending to  SMEs-33.8 bln AMD or 18% of the total loan portfolio of the bank. In  the banks' total lending to SME the ACBA Credit Agricole Bank's share  is 6%. The portfolio of agriculture loans of the bank reached 87.1  bln drams ($ 182.8 mln) by July 1, 2016 with 5.1% growth in the first  half of 2016. In aggregate agriculture loans of the banking system  ACBA-Credit Agricole Bank holds the major share-55% by July 1, 2016.  As this bank is mainly specialized on agriculture lending the share  of these loans in its portfolio reaches 41%. 

To recall, "ACBA-Credit Agricole Bank" CJSC has been operating in  Armenia since 1995. Since September 2006, the majority shareholders  of the Bank have been Credit Agricole S.A. (15.56%) and SJSC "Sacam  International" (part of Credit Agricole S.A - 12.44%). Along with  them, 10 agricultural cooperative unions hold shares in the capital  of ACBA- Credit Agricole Bank. By the coverage of the branch network  and the number of regional branches, the Bank holds the second  position.  According to the key balance sheet figures, ACBA-Credit  Agricole Bank is in the TOP- 5.