AACO to get EURO 62,500 grant from Oxfam-Novib

11.03.2010 20:14
AACO to get EURO 62,500 grant from Oxfam-Novib

YEREVAN, March 11, /ARKA/. The Association of Armenian Crediting Organizations (AACO) will get a EURO 62,500 grant from Oxfam-Novib, the Dutch affiliate of the international Oxfam organization. Mariam Yesayan, AACO chairperson, said the grant will arrive later this month.

‘We have been cooperating actively with Oxfam-Novib and a week ago we signed a grant agreement,’ she said addressing the annual meting of the AACO.

She said the grant will be spent on creation of the executive body of the Association, formation of infrastructure and purchase of technical equipment. She said last year the AACO actively cooperated also with Poland’s Microfinance Center for CIS and Eastern Europe and some other international organizations.

AACO was established in 2008 by universal crediting organizations Finka, New Horizon, GFC, CEF International, Farm Credit Armenia and Aregak. The annual meeting elected Khoren Kerobian, executive director of New Horizon, as AACO chairman. -0-

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