Asian Development Bank and Finca UCO have signed a loan agreement to provide a $ 6mln loan to the company and a $ 200,000 technical assistance grant.

ADB's funding will be provided Finca with necessary means in the coming years, which the company will use to increase farmers' income level and employment of micro, small and medium-sized enterprises, offering loans to customers both in drams and in dollars.

"The further development of the Armenian economy is largely dependent on the dynamics of private sector development, so it is necessary to offer businesses the right solutions for financing the country's prosperity. The Asian Development Bank is proud to work with Finca and deliver financial services to areas where farmers and households still have access to them, "said Christopher Thyme, ADB Deputy Chief Executive Officer.

ADB will also provide technical assistance to Finca, helping to introduce a new credit scoring system and receive a Smart Certificate from customers in financial institutions.

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