Development Fund of agriculture and ACBA-Credit Agricole Bank signed memorandum on cooperation

ArmInfo. Executive Director of the RA Agricultural Development Fund Gegham Gevorgyan and Deputy Chief Executive Officer of ACBA Credit-Agricole Bank Norik Nazaryan signed a memorandum of cooperation within the framework of the state program of subsidizing agricultural loans, according to the  press service of the RA Ministry of Agriculture.

Gevorgyan noted that within the memorandum the Bank will support the Fund in the issue of arranging seminar, which will be held in the regional subdivisions of the Fund. "The training course will last 5 days, applications for participation in which have applied about 6 thousand farmers"he noted.

Nazaryan in his turn informed that in the current year, in the framework of cooperation with the Fund, about 13,000 farmers were re-trained. "We will try to teach our farmers to manage their financial resources more competently and conduct more efficient agricultural activities," he said.

"ACBA-Credit Agricole Bank" JSC has been operating in Armenia since 1995. Since September 2006, the largest European banking group Credit Agricole SA has been the majority shareholder of the bank. with a 15.56% interest in the capital, followed by the participation of SJSC "Sacam International" (member of the Credit Agricole SA) - 12.44%, along with which there are 10 regional Unions of Peasant Mutual Assistance ). In terms of coverage of the branch network, the bank is included in the TOP-5, and the second position is assigned to the number of regional branches. According to the main balance sheet indicators, ACBA-Credit Agricole Bank holds positions in TOP-5.