YEREVAN, April 4. /ARKA/. Kamurj (Bridge) universal credit organization said today it had joined two agricultural credit programs of the German bank KFW at the end of 2015, having also received an opportunity to cooperate with the international financial consulting company BFC as part of those programs.

According to the credit organization, as a result of cooperation with BFC it received consultations on personnel training, streamlining business processes and creation of a centralized decision-making system in the process of loans approving.

As part of that program, it allocated in 2016 about 850 million drams, mainly as micro agricultural loans to some 280 customers. The average loan amount was 3 million drams provided in Armenian drams at 13-15% interest rate and without commissions.

The organization singled out the centralized decision-making system in the process of approving loans, which resulted in cutting the risk level to 0.3% for this type of loans, quite an impressive figure for the agricultural sector. Today, 70% of micro credits are approved through the centralized decision-making system, according to the organization.

Kamurj universal credit organization said also it plans to continue and deepen cooperation with KFW Bank and international financial consulting company BFC.

Kamurj is one of the largest credit organizations in Armenia. It was founded by a charitable foundation in 2010 to help expand micro businesses. In 2012 it was reorganized to a closed joint stock company.-0-