YEREVAN, November 29. /ARKA/. Thanks to the assistance of the Stepan Gishyan charity foundation run by the ACBA-CREDIT AGRICOLE BANK, a wool processing workshop operating in the Shinuair community in the southern province of Syunik, has been expanded, the press service of the bank reported today. More precisely, new equipment was installed there and 5 new jobs were created.

Thanks to the assistance of the Stepan Gishyan charity foundation, the only wool processing workshop in the region, created four years ago by the public organization Resource Center for Women's Development, purchased wool processing equipment and leather sewing machines that will be used to make bags.

"The charity foundation welcomes those programs that use local raw materials and resources. This program is very interesting, first of all, because sheep breeding is widespread in this place, but the wool was considered waste because there was no local consumption market. Now the workshop is expanded, and from now on it will be possible to increase production volumes,’ said Anna Gishyan, director of the Stepan Gishyan charity foundation.

In 2015, ACBA-CREDIT AGRICOLE BANK, the French Agricole Credit, the National Federation of Credit Agricole and the family of Stepan Gishyan founded the Stepan Gishyan charitable foundation.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-