PRESS RELEASE
Children of Armenia Fund (COAF) – Yerevan Office
53-55 Pavstos Byuzand Street, 375010
Yerevan, Republic of Armenia
Contact: Inessa Grigoryan
Tel: (+374 10) 522076; 562068
Fax: (+374 10) 522076
E-mail: [email protected]
Web:
Children of Armenia Fund – New York Office
162 Fifth Avenue, Suite 902,
New York, NY 10010, USA
Contact: Anna Sargsyan
Tel: 212 – 994 – 8234
Fax: 212 – 994 – 8299
E-mail: [email protected]
Web:
COAF Holds Informational Conference on Micro Lending
for Rural Areas of the Republic of Armenia
Karakert, Armavir District, Republic of Armenia, January 30, 2007 ¾
Today the Children of Armenia Fund (COAF) held a conference in the
village of Karakert to provide information on different micro loan
packages available to villagers of its Model Cluster ¾ Argina,
Dalarik, Karakert, Lernagog, Myasnikyan, and Shenik. Launched in
February 2006, COAF’s Model Cluster Project is stepping into its second
year and will more intensely focus on activities geared to revitalize
the economy of the its villages. On a broader scale, COAF’s
comprehensive rural development program also includes infrastructure
rehabilitation, healthcare, social and educational components.
Today’s conference was very helpful as it provided rural micro, small
and medium-size businesses and young entrepreneurs with detailed
information on a wide range of loan packages that the participating
micro lenders have to offer. Many of the residents attending today’s
conference were enthusiastic to be given the opportunity to start their
own business with an eye to increasing their families’ income and
contributing to the overall economic revival of the community.
COAF had conducted a preliminary assessment of the micro lending market
in Armenia and had invited five prominent lenders to participate in
today’s event. The selection was based on the type of loan packages and
rate of interest each lender offers, presence in COAF’s Model Cluster,
and appeal to village communities. Making presentations on behalf of
micro lenders were Mr. Simon Tovmasyan of Aregak Universal Lending
Company, Mr. Harutyun Poghosyan of ACBA Credit Agricole Bank, Mr. Arsen
Bazikyan of ACBA Leasing, Mr. Karen Hakobyan of ECLOF-Armenia and Mr.
Gagik Vardanyan of Kamurj Charitable Foundation for Micro Business
Development. Each presenter provided detailed information on the loan
application process and applicable terms and requirements.
The conference concluded with a question-&-answer period and Dr. Garo
Armen’s closing remarks. COAF’s founder and chairman emphasized the
criticality of economic growth for the revitalization of the Model
Cluster villages and encouraged the conference participants to take
"smart" risks in starting or growing their businesses.
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From: Emil Lazarian | Ararat NewsPress
