YEREVAN, November 15. /ARKA/. The Asian Development Bank (ADB) is providing $6 million in loans and $200,000 in technical assistance grants to FINCA, one of the leading credit organizations in the country, to support micro, small and medium-sized enterprises (MSME) and farmers, helping them to raise income levels and employment, the press office of the Asian Development Bank reported on Tuesday.

“Low access to finance is a significant problem in Armenia,” the ADB says in its press release. “Only 18% of adults aged 15 and above have a bank account and out of the 130,000 small and medium-sized enterprises only 50% have access to finance, and this figure increases to 60%–70% in rural areas.”

ADB’s financing package will allow FINCA to provide long-term funds to clients. ADB’s funding will be used to support underserved populations, with up to 75% of ADB’s funding destined for MSMEs outside of Yerevan, and up to 70% used to onlend to agricultural borrowers.

Categories: General news, Loan organizations, News, News of the hour | Comments Off on Armenia’s FINCA Credit Organization to receive $6-million loan and $200,000 in technical assistance grants from ADB

Tags: ADB, Armenia, Credit Organization, Finca, LOAN

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Starting from May 12, 2017 nominal coupon bonds issued by “Finca” Universal Credit Organization CJSC (UCO CJSC) will be listed on NASDAQ OMX Armenia and included in the bonds’ second Bbond list, the stock exchange reported on Thursday

Categories: Bonds.am @en @en, General news, News, News of the hour, Новости | Comments Off on “FINCA” UCO CJSC’s AMD denominated coupon bonds listed on NASDAQ OMX Armenia

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FINCA Universal Credit Organization’s bonds (FNCAB1) were admitted Wednesday to trading at NASDAQ OMX Armenia, according to the stock exchange’s news release

Categories: Bonds.am @en @en, General news, News, Новости | Comments Off on FINCA Universal Credit Organization’s $4 million worth bonds admitted to trading at NASDAQ OMX Armenia

Tags: bonds, Finca, NASDAQ OMX Armenia

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IFC, a member of the World Bank Group, is providing a $3 million loan to FINCA UCO, a leading microfinance institution in Armenia, to increase access to finance for micro and small businesses

Categories: General news, Loan organizations, News, News of the hour | Comments Off on IFC helps FINCA expand lending to smaller businesses in Armenia, supporting growth and job creation

Tags: Armenia, Finca, IFC

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Finca universal credit organization said it has increased its authorized capital by 414.2 million drams to 4.9 billion drams

Categories: General news, Loan organizations, News | Comments Off on Finca increases its authorized capital to 4.9 billion drams

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IFC, a member of the World Bank Group, said it will provide armenian FINCA UCO CJSC with a loan of $4 million in local currency, to help it finance micro, small and medium enterprises (MSMEs) so they can expand, create jobs, and reduce poverty

Categories: General news, Loan organizations, News | Comments Off on IFC to provide FINCA with $4 million loan to finance micro, small and medium enterprises

Tags: Finance, Finca, IFC

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FINCA Universal Credit Organization is the biggest creditor among Armenian microfinance organizations.

Categories: Interviews, Loan organizations, News | Comments Off on Yervand Barseghyan: clients FINCA universal credit organization’s greatest wealth

Tags: Barseghyan, CLIENTS, Finca

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Opening ceremony of the new office of Universal Credit Organization (UCO) “Finca” will take place on November 12 in Ashtarak.

Categories: General news, Loan organizations, News | Comments Off on New Office Of The Branch Of Armenian Credit Organization “Finca” Will Open On November 12 In Ashtarak

Tags: Armenia, branch, Credit Organization, Finca

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