FINCA Armenia and Bank im Bistum Essen eG (BIB) gave a start to a new partnership in August 2015 to further support small and medium enterprises in Armenia and by that create equal opportunities and favorable conditions for underfinanced entrepreneurs particularly in the rural areas of Armenia. In the scope of this partnership FINCA Armenia has received the first tranche of the loan amounting to USD 2 million, while the remaining portion of USD 1 million is expected in September.
“We are honored to be one of the first non-bank institutions in Armenia to foster cooperation with BIB,” noted FINCA UCO General Director Hrachya Tokhmakhyan. “This is a good start and I am confident that our partnership will become stronger over the years, allowing us to direct our joint efforts to making a difference in the lives of thousands of low-income families”.
About FINCA
FINCA UCO CJSC is a subsidiary of FINCA Microfinance Holding Company owned and managed by FINCA International, with headquarters in Washington, DC. FINCA Int. serves over 1.8 million people through its subsidiaries in 23 countries of Africa, Eurasia, the Middle East and South Asia and Latin America. FINCA Int.’s outreach is among the broadest and most comprehensive of today’s microfinance institutions.
About BIB
BIB is a German cooperative Bank and a financial service provider for churches, social organizations, foundations, relief organizations and anyone who shares their vision for a fair and peaceful world.