YEREVAN, January 29. /ARKA/. The Armenia-based ACBA-CREDIT AGRICOLE BANK said today it has initiated a joint agricultural project together with the Oxford Microfinance Initiative (OMI).

The aim of this project is to provide business strategy recommendations for ACBA CREDIT AGRICOLE BANK regarding its agribusiness department, such as potential recommendations regarding its expansion plans or product developments. Recommendations will be given on the basis of a rigorous analysis of the agricultural sector in Armenia, ACBA’s current performance as well as a competitor analysis of ACBA’s standing in relation to its competitors.

ACBA-CREDIT AGRICOLE BANK was established in 1996 as part of European Union’s TACIS program. In September 2006, France’s Credit Agricole Group became the biggest shareholder of the bank making considerable investments into its capital. Today it is one of the largest banks in Armenia and is represented across the country.

In terms of the volume of its aggregate capital, the bank is the leader in the banking sector of Armenia. While ACBA Credit Agricole has become a universal bank it remains the key financing partner for the Armenian economy, particularly among farmers and small rural and urban businesses.

The Oxford Microfinance Initiative is a student-run consultancy that provides pro bono services to microfinance institutions. Oxford Microfinance Initiative (OMI) acts as a link between microfinance institutions (MFIs) and the Oxford student population. -0-