News

On January 12, 2012 “Congress” hotel conference-hall hosted ceremony devoted to “Farm Credit Armenia” 1000th member-borrower. More than hundred FCA member-borrowers, representatives from RA Central Bank, World Bank, RA Ministry of Agriculture, management from US Department of Agriculture, among them Marc Hawthorne, Daniela Maor, Fred Johnston, as well as head of USDA Armenian Office Gregory Boot attended the event.
    Congratulating the cooperative’s 1000th member-borrower Shushanik Martirosyan FCA Chief Executive Officer Armen Gabrielyan expressed his gratitude to all those organizations that have supported “Farm Credit Armenia” on its way to sustainable development, mainly: World Bank Armenian Office, MCA-Armenia, RA Central Bank, German-Armenian Fund and especially US Department of Agriculture for its continuous support. The CEO’s speech was followed by handling a participation certificate to FCA 1000th member-borrower.
     Speaking about the successes of FCA, RA Central Bank Board member Vakhtang Abrahamyan noted that as a regulatory body RA Central Bank welcomes the presence of suchlike organization on the market and hoped that in future FCA will continue to make great progress.
In his speech the head of USDA Armenian Office Gregory Booth expressed hope that mutually beneficial cooperation between FCA and USDA will be continuous and long-term.
     Representative from RA Ministry of Agriculture Hrachya Tspnetsyan congratulated FCA 1000th member-borrower on behalf of the ministry and highly appreciated FCA role and importance in the development of Armenian agriculture by reminding that FCA is an institution founded by Armenian farmers.  Mr. Tspnetsyan emphasized also the importance of FCA partnership with a number of international organizations.
      In his speech MCA-Armenia representative Sergey Meloyan highly appraised FCA creation by noting that it has already formed a good biography and reputation and is the first organization to introduce agricultural machinery leasing product on its own initiative within the framework of MCA-Armenia Program, and ranks the first among nine financial institutions by the number of issued loans within MCA-Armenia program. As a concluding part of the speech Mr. Meloyan handed certificate to Mr. Gabrielyan for FCA invaluable contribution to the implementation of the MCA-Armenia credit program.

      From January 9-11, 2012 “Farm Credit Armenia” UCO CC hosted trainers from the US who conducted training on corporate governance for FCA Board of Directors, among them professor at Texas A&M University Dr. John Penson and Chief Risk Officer of Opportunity International Lynn Exton. The training was organized by United States Department of Agriculture. During these three days USDA officials from the US were also the guests of the training. The latter covered the following main topics: theoratical and practical part of corporate governance, risk management, also informal open discussions, workshops and case studies were part of the organized training.
     The training was rather informative and valuable for FCA board members who will apply the acquired knowledge to their board activities.