ArmInfo. ACBA-Credit Agricole Bank together with the German Nature and Biodiversity Conservation Union) (NABU) announced the launch of the "Development of Organic Agriculture" for 2019-2020 free program, the press service of the bank told ArmInfo
According to the source, within the framework of the program, organizations recognized as winners, farmers and agriculture will have the opportunity, through co-financing from the Bank and NABU, to undergo free certification for the production of organic products and to increase export production possibilities several times.
Interested in participating in the program, the subjects can download the corresponding application from the official website of the bank until April 20 (https://www.acba.am/uploaded/Nabu-Organic-filling- form4stage.pdf?fbclid=IwAR0ivTqGLOYENkOBeHxCeTXdJagsvIDr3KmCK7G5l9I sbwjTW217FQvmFBk), to fill it in and send it to [email protected].
The report notes that in 2015-2018, ACBA-Credit Agricole Bank and the NABU Union were able to certify 27 organizations, the overwhelming majority of whose production is already represented in foreign markets.
To note, the first free program of ACBA-Credit Agricole Bank together with NABU was launched in 2015 with the aim of developing organic agriculture and assisting producers of the sector. Today, business entities certified in the framework of cooperation successfully sell their production abroad. Companies participating in this program receive a free organic certificate from NABU and ACBA-Credit Agricole Bank. German specialists annually conduct retraining courses for beneficiaries of the program.
According to the Financial Rating of Banks of Armenia as of December 31, 2018, prepared by ArmInfo IC, the volume of agricultural loans as of January 1, 2019 reached 169.4 billion drams or $ 350.2 million, with a y-o-y growth of 5.7%. ACBA-Credit Agricole Bank is the undisputed leader in agricultural lending, covering 49.4% of the total volume (or about 84 billion drams - more than $ 173 million). In the loan portfolio of ACBA-Credit Agricole Bank, the share of agro-loans accounts for 33.2%, with ay-o-y growth of the absolute value of 10.1%. To recall, ACBA-Credit Agricole Bank CJSC has been operating in Armenia since 1995. The majority shareholders of the bank as of January 1, 2019 are: Joint-Stock Company SJSC "Sacam International" (member of Credit Agricole S.A) - 6.48%, "ACBA Federation" CJSC - 93.52%. To note, Naturschutzbund Deutschland (NABU) is the oldest and largest environmental NGO in Germany, bringing together about half a million members. NABU works in many countries of the world, implementing various projects aimed at protecting nature and developing specially protected natural areas. NABU is the most popular non-governmental environmental organization in Germany - there are more than 450 thousand members in its ranks. NABU is particularly interested in the Caucasus. NABU has been operating for more than 100 years.