YEREVAN, May 22. /ARKA/. The ACBA Federation in cooperation with the Armenian branch of the Nature and Biodiversity Conservation Union (NABU), one of the oldest and largest environment associations in Germany, summed up the results of a grant competition, announced in March. The grants are provided to help promote development of rural tourism in Armenia, the press service of ACBA-CREDIT AGRICOLE BANK said today.

It said some 522 organizations and individuals from across the country sent applications, presenting their projects for the development of rural tourism. After summarizing the results, it was decided to assist 5 projects from different regions of the country. The grants will help stimulate the development of rural tourism in five rural areas in Shirak, Gegharkunik, Vayots Dzor and Syunik provinces due to the improvement of services.

"Our mission is not only to provide financial services. We work to contribute to the development of the economy, particularly in the regions of the country. Having such a good partner as NABU, we can proudly say that we are moving along the right track and contribute to the development of communities,’ said Hakob Andreasyan, CEO of ACBA-CREDIT AGRICOLE BANK.

The ACBA Federation was created in 2017 and aims to stimulate innovative development of agriculture and rural communities of Armenia. ACBA-CREDIT AGRICOLE BANK and NABU have been cooperating since 2015.

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.

Founded in 1899, NABU encompasses more than 520,000 members and sponsors, who commit themselves to the conservation of threatened habitats, flora and fauna, to climate protection and energy policy. NABU`s main objectives are the preservation of habitats and biodiversity, the promotion of sustainability in agriculture, forest management and water supply and distribution, as well as to enhance the significance of nature conservation in our society. -0-